Intrepid announced today that it acted as the exclusive financial advisor to Westone Laboratories (Westone), a portfolio company of HealthEdge Investment Partners, on the sale of its premium in-ear monitor business Westone Audio to Lucid Audio.
Westone Audio enjoys a long heritage in the music industry as a leading provider of premium in-ear monitor solutions and it is a leading brand for touring musicians, audiophiles, and music lovers. The company pioneered the custom in-ear monitor market in the 1980s and its products deliver industry-leading sound precision, ergonomics, fit, and hearing preservation. Westone Audio’s custom and universal fit earphones cater to passionate audiophiles worldwide.
“As healthcare investors, it has always been our goal to move the Westone Audio brand into the hands of a company with a focus on music products, so that we could focus on Westone’s core mission of providing best in class hearing healthcare and hearing protection products to our clinical and corporate customers. We are pleased to pass the torch to Lucid Audio, which already focuses on music through its Etymotic Research brand and will continue to develop and build Westone Audio into the future,” said Matt Dawson, Principal at HealthEdge Partners. “Intrepid’s expertise and deep knowledge of the MI channel and relationships in the audio industry played a critical role in finding the best partner for Westone Audio. Their strong execution capabilities enabled us to complete a transaction amid the current challenging market environment.”
“The Westone Audio brand is synonymous with custom in-ear monitors and premium audio. Intrepid was pleased to be chosen to work with HealthEdge on this strategic divestiture,” commented Gary Rabishaw, Managing Director and Head of the Commercial & Consumer Technology practice at Intrepid. “We were confident the Westone Audio brand would resonate with the acquirer universe, and we are excited to see what Westone Audio and Lucid Audio can achieve together.”
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About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to help our clients win big. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.