DALLAS – Highlander Partners L.P. acquired Biamp Systems from Lomar Corporation. Founded in 1976 and headquartered in Beaverton, OR, with additional engineering operations in Australia and New York, Biamp offers commercial audio systems for business, education and government facilities. Lomar will continue as a minority partner in the transaction.
Highlanders’ principal focus is making direct and control investments in manufacturing, consumer products and food/beverage products. In September of 2016, Highlander added Rashid Skaf, the former CEO of AMX, as a senior advisor to identify technology company opportunities. In connection with this transaction, Skaf will become president, CEO and co-chairman of Biamp.
More Details from Highlander Partners (www./highlander-partners.com):
Mike Nicolais, Vice Chairman and CEO of Highlander Partners commented, “Highlander has been very successful building value in enterprises by finding well-run, profitable businesses in healthy industries that have the potential for significant future growth through both organic expansion of the existing business and strategic additions of complementary acquisitions. Biamp perfectly matches that profile and we’re delighted to add it to our portfolio. We believe the addition of Rashid to an already strong Biamp team will guide the company to tremendous success.”
Mr. Skaf added, “While CEO of AMX, I was intimately familiar with Biamp and developed deep respect for its products, brand, and organization. I’m delighted to have the opportunity to join and lead the Biamp team. I have no doubt that together we will usher Biamp into an exciting new period of growth and industry leadership that will benefit the company, its employees, and channel partners.”
Pagemill Partners, a division of Duff & Phelps, acted as financial advisor to Biamp Systems Corporation in the transaction. Regions Bank and Fifth Third Bank, as joint lead arrangers, provided senior financing facilities and Norwest Mezzanine Partners provided mezzanine debt and equity in support of the transaction.
