Firms Team To Offer Advisory Services To A/V Companies


Boston -

CRX Partners

, a business consulting firm headed by two audio industry veterans, has joined forces with

Covington Associates

, a specialty investment banking firm, to offer financing and merger-and-acquisition advisory services to audio and video companies in the consumer, professional/commercial, musical instruments, broadcast, and Internet industries.

 The two companies said they will guide businesses looking for financing or considering merger and acquisition options through the planning, execution and closing stages. The two companies also said they will connect companies to a network of strategic and financial investors and buyers.

 Boston-based Covington Associates has more than 50 years of experience in media technology markets and offers expertise in investment banking, corporate development, finance, legal matters, and Wall Street research and sales for privately held and publicly traded companies.

CRX Partners, based in Montville, N.J., is a strategic and business development consulting company with a focus on the audio industry. CRX is headed by CE industry veterans Courtney Spencer and Roland MacBeth, who have held senior executive positions and consulted for CE companies and were involved in the acquisition and integration of Calrec and Allen & Heath into D&M's pro division. CRX's current clients include manufacturers, technology licensors and national distributors in North America, Europe and Asia.

  Covington's M&A and capital-raising expertise in the media technology sector will combine with CRX's "audio-centric knowledge and background" to meet client needs "in a very comprehensive way," said CRX's Spencer.

 Ethan Jacks, managing director of Covington's digital media practice, said CRX will bring "broad management and consulting experience in virtually all sectors of the audio business" to Covington. The CRX principals will "help us provide unique capabilities to many current and new clients," he said.

 Jacks was a senior executive at Avid Technology for seven years and was involved in 12 strategic acquisitions at the company.


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