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Recoton Sells 2 Operations For $35 Mil.

12/26/2002 02:25:00 PM Eastern

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 after-market 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.

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