By Lisa Johnston
New products on display at the American International Toy Fair, held in N
St. George, Utah - Cellular signal booster supplier Wilson Electronics has been acquired by private equity firm Sorenson Capital. Financial terms were not disclosed.
Sorenson managing directors Fraser Bullock and Tim Layton, and principal LeGrand Lewis join the Wilson board of directors.
Sorenson’s extensive brand portfolio includes solar charging provider Goal Zero and International Development Corp., which markets CE products and accessories under the Westinghouse brand.
According to a Wilson statement, Solamere Capital is also a minor co-investor alongside Sorenson. Solamere’s chairman is former presidential candidate Mitt Romney and son Tagg Romney is a managing partner of the firm.
"As a market share and performance leader in its industry, Wilson represented a compelling investment opportunity," said Lewis. "We look forward to continuing Sorenson Capital's tradition of taking companies to the next level by capitalizing on Wilson's strong product leadership and transformational growth opportunities."
"With Sorenson Capital on board, we anticipate a significant growth phase as we continue to develop technology and consumer, enterprise and industrial products that drive value for cellular users," said Robert Van Buskirk, Wilson president, CEO and board member.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.