Tivoli Audio is Acquired by Private Equity Firm
Tivoli Audio announced that has been acquired by Serruya Private Equity, in order to "serve as its flagship consumer electronics brand."
The press release did not release a purchase price.
Michael Serruya, CEO of SPE, is now chairman of Tivoli.
“We are thrilled to add Tivoli Audio to our family of premium consumer brands. Tivoli not only exemplifies the relevance of thoughtful design, but is as great sounding as it looks," Serruya said in a statement.
"We see the potential to build upon Tivoli Audio’s position as an iconic global brand in the US, Europe and Asia and on the company’s reputation for bringing to market outstanding design and top-tier audio performance. SPE will focus on enhancing Tivoli’s market share by supporting the development of great new products to be sold in more locations around the globe.”
Tivoli will exhibit at the High End show in Munich.