2017 has been a fast-paced year for M&A activity across the Commercial & Consumer Technology sectors tracked by Intrepid. It’s hard to believe the industry is once again gearing up for CES and NAMM in January. Intrepid completed a couple of notable deals in the C&CT space since our last newsletter, representing DayMen—owner of the iconic Lowepro and Joby brands—on its sale to U.K.-based Vitec Corp., and representing Bear Down Brands in a transaction with private equity (PE) firm Topspin Partners. These transactions each represent distinct themes that we are seeing across all sectors—strategic consolidation in mature markets in the case of Daymen and PE investment in fast-growing eCommerce companies in the case of Bear Down.
Other notable trends in 2017 include strong activity in the gaming space, with Corsair changing PE hands and Logitech making a push with its acquisition of Astro Gaming. We are also seeing continuing consolidation in the lighting space with both strategic and PE buyers highly active. The residential and commercial A/V markets have similarly experienced a ton of activity as buyers add capabilities, penetrate new markets or take out competitors. Congrats to our friends at Snap A/V on their successful PE secondary trade from General Atlantic to Hellman & Friedman.
Finally, on a sadder note, we wanted to acknowledge the passing of our good friend and colleague John Stiernberg who was a steadfast supporter and thought leader in the Commercial and Residential A/V markets for nearly 40 years. We extend our thoughts and condolences to Jeanne and the rest of John’s family.