Teufel Speakers GmbH, a Berlin, Germany-based designer and online retailer of loudspeaker systems, has been acquired by private equity investor HgCapital from Riverside.
The company, which designs, markets and sells its own brand audio speaker systems (home theatre, multimedia, integrated systems) directly through its business-to-consumer internet platform, teufelaudio.com, has 72 employees and is focused on the mid-to-high-end segment of the market.
Teufel recently expanded its product portfolio and has begun to sell into other European countries, including the UK.
The acquistion is still subject to regulatory approval. It is supported by the management board of the company, which will maintain a significant stake in the business.
Commenting on the transaction, Thorsten Reuber, CEO of Teufel, was quoted as said: “We are now looking forward to working with HgCapital.
HgCapital also has a reputation for adding value right across the supply chain and we have a fantastic opportunity to further diversify and extend our business under their stewardship”, he added.