Trivest Acquires Directed Electronics, Inc., Maker of the Viper Car Alarm
28 December 1999
Trivest Acquires Directed Electronics, Inc., Maker of the Viper Car Alarm
MIAMI--Dec. 28, 1999--Trivest, Inc., through its affiliated partnerships, today announced that it has acquired Directed Electronics, Inc. ("DEI" or the "Company").DEI, located in Vista, California, is the largest designer and marketer of consumer brand name automobile security and convenience systems. The Company holds the No. 1 market share in the industry and markets its products under the Viper(R), Python(R), Sidewinder(R), Hornet(R), and Wasp(R) brand names. In addition, DEI markets a complete line of automobile audio speaker and amplifiers as well as installation products. The Company's 700 products are sold through mobile electronics and stereo shops, electronic superstores and automobile dealerships.
The Company's founder and CEO, Darrell E. Issa, is widely recognized as a leading industry participant in the mobile electronics industry and is currently serving as the Chairman of the Consumer Electronics Association (CEA) as well as a Governor of the Board of Governors of the Electronics Industries Alliance (EIA). Mr. Issa and his wife Kathy established DEI in 1986.
Darrell Issa, stated, "This transaction represents a critical step in our strategy to build our business both internally and externally through acquisitions. Trivest brings both extensive auto industry experience with aftermarket and OEMs, as well as a long track record of partnering with management teams to build industry leading companies through acquisitions. DEI's management team looks forward to working with Trivest in acquiring complementary businesses which expand and enhance the breadth of our product lines."
Troy D. Templeton, Trivest Senior Managing Director said, "The acquisition of DEI is consistent with Trivest's investment philosophy. We strive to acquire world-class businesses with dominant market shares, leading brand names, and exceptional management teams. DEI's flagship Viper(R) brand name will provide an excellent platform for our mobile electronics build-up. In addition, we are pleased that Darrell Issa will continue to lead the Company along with the current senior executive team. Darrell and Kathy Issa, along with other members of the senior management team, are also significant investors in DEI."
Trivest is a Miami-based private investment firm and a leading provider of equity for middle market corporate acquisitions, recapitalizations, and growth capital financings. Since its founding in 1981, Trivest has sponsored 90 acquisitions and recapitalizations, totaling approximately $2.0 billion in value.