Chief/Sanus Files for IPO
Chief/Sanus Audio Visual, under CSAV, has filed with the Securities Exchange Commission today for an initial public offering.
Under the company description of the SEC filing, CSAV said it believes it has the largest market share in North America for flat-panel display and projector mounting solutions and speaker stands. The company also states that, based on sales, it is one of the top providers of AV furniture and other AV products and accessories in North America.
The company reports net sales of $204 million in 2006, a 56.8 percent increase from $130.1 million in 2005. Income increased about 21 percent in 2006 to $35.2 million from $29.2 million in 2005.
CSAV lists its competitive strengths as having a leading market position, strong relationships with a diversified customer base, industry leading product development, highly effective customer service, a multi-branded strategy, flexible supply chain capabilities and an experienced management team.
Key growth initiatives in the report include deaper penetration into its existing retail base and an expanded presence in commercial channels, as well as international markets.