San Diego, Calif. – Private-equity firm Hancock Playground Associates purchased Soundcast, the bot of wireless outdoor speakers, as well as appointed The OAC Group to the company.
Hancock principal Ted Fourticq said he sees "a really future" for Soundcast because of "the heightened growth and demand for wooden living products. "
The OAC Group, headed by industry seasoned expert Oscar Ciornei, will run itself and manage the business, Hancock pointed out. The OAC Group and Soundcast's existing staff will be responsible for promotion sales strategy, new product development, technological, customer service/support systems, and personal financial situation.
The new owner said it will work towards Soundcast's brand and product development among new products planned for CES 2016 and for the International Casual High temperature & Accessories Market at spanking new price points with stronger amenities. New products will include a new wireless engineering, new design aesthetics and grew connectivity, the company said.
Soundcast in the moment offers weatherproof outdoor omnidirectional people at $679 and $979. The businesses stream music wirelessly from internal sound systems connected to $199 the wireless transmitters up to 300 feet on your trip. The speakers also accept one optional $79 Bluetooth dongle so that you can stream music from smartphones as well as tablets up to 33 feet on your trip. The company also offers a $399 Wireless bluetooth speaker.
Hancock "is a solid possessor and investor committed to the long-lasting brand development of Soundcast" and "will further support our channel industries in place with the products and resources were required to succeed, " said Ciornei, president/CEO of Soundcast and CEO from the OAC Group.
Soundcast will also be led prelit by COO Leonard Santos as well as CFO Bob Dulsky.
Business medical practices, accounting and warehousing will remain on San Diego.
Hancock said it looks to companies with "lengthy operating pasts in mature industries" and said it is focused on "building a long-lasting value and growing businesses. " Other retail brands owned by your company include Charming Charlie, the retailer of value-priced apparel as well as accessories; American Home, a outlet of furniture, bedding, and other residential products; Brown & Cole, the grocery chain; and home furnishings complete Barcalounger. The company previously had purchases of Leslie Pools & Spas, Gordon Biersch Restaurants, and Brown Nike air jordan Furniture.
The OAC Group's above clients have included Russound, DTS, Atlantic Technology, SnapAV, Nest, Konica, SpeakerCraft, Harman/Kardon, A-BUS and others.
Having 2013, a deal by industry seasoned expert Jeremy Burkhardt to buy the company plumeted through.
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