Tivoli Audio Announces Investment By Serruya Private Equity
BOSTON and UTRECHT, Netherlands, May 13, 2015 /PRNewswire/ — Tivoli Audio LLC (www.tivoliaudio.com), the iconic high-performance audio company with headquarters in Boston, MA and Utrecht, Netherlands, announced today that Toronto-based Serruya Private Equity (“SPE”) has acquired Tivoli Audio to serve as its flagship consumer electronics brand.
SPE is a leading investment firm with a longstanding and successful history of enhancing brands. SPE’s portfolio of consumer brands has over $1.5 billion in system-wide revenues.
Michael Serruya, CEO of SPE and Chairman of Tivoli Audio said, “We are thrilled to add Tivoli Audio to our family of premium consumer brands. Tivoli not only exemplifies the relevance of thoughtful design, but is as great sounding as it looks. We see the potential to build upon Tivoli Audio’s position as an iconic global brand in the US, Europe and Asia and on the company’s reputation for bringing to market outstanding design and top-tier audio performance. SPE will focus on enhancing Tivoli’s market share by supporting the development of great new products to be sold in more locations around the globe.”
In addition to being sold in 50 countries worldwide, Tivoli Audio products are featured in blockbuster award-winning movies and television shows, and can be seen and heard in leading prestige hotels. Tivoli Audio will be exhibiting at the Munich High End Show from May 14th to May 17th.
Levy Capital Partners served as the advisor to Tivoli Audio in connection with the transaction.