Broadcast Electronics has been acquired by a new group jointly led by Rich Redmond and majority investor The Alzana Group of Boston, Masachussetts. Redmond becomes a significant owner in the company.
The transaction was structured as an asset purchase from previous owner, Elenos Srl of Italy, with the company continuing to operate as Broadcast Electronics, but under a new legal entity named BE Systems, Inc.
‘I could not be more excited to launch the next chapter in the history of BE, dedicated to customer focused innovation and new products that will deliver breakthrough capabilities to our worldwide radio broadcast customer base,’ says Broadcast Electronics CEO, Rich Redmond. ‘I enthusiastically look forward to collaborating with John Danner of The Alzana Group to strengthen our capabilities, accelerate our aggressive growth ambitions, and redouble our commitment to excellent customer service.’
‘The Broadcast Electronics investment is an ideal example of Alzana’s commitment to providing capital solutions to businesses with tremendous, untapped potential,’ adds John Danner, Founder and Chairman of The Alzana Group and former Chairman of GatesAir (2017-2022). ‘We view radio broadcast as an underserved market in great need of newer technology, better service, and a partner fully focused on meeting and exceeding the needs of radio broadcast customers across the globe. We believe that BE’s top-notch management team, strong brand name, and exciting growth opportunities make it an ideal platform acquisition.’
Financial terms of the transaction have not been made public.
More: www.bdcast.com