Recoton Sells 2 Operations For $35M
By Staff -- TWICE, 1/9/2003
LAKE MARY, FLA.— Recoton has sold two of its operations for $35 million, part of the accessories maker's previously announced total restructuring.
Separately, Recoton dealt away its AAMP-mobile and security aftermarket accessory business to an affiliate of ICV Capital Partners, a New York-based private equity firm. Based in Clearwater, Fla., AAMP sells the Stinger, Peripheral and Best Kits brands.
Recoton's NHT (Now Hear This) loudspeaker business was sold to Rockford, a Tempe, Ariz.-based designer, manufacturer and distributor of high performance audio systems for the mobile and home theater audiences. Benicia, Calif.-based NHT, which designs high quality loudspeakers for home theater, stereo and custom installation, markets the Evolution, Super Audio and Architectural brands.
