Sound United LLC, the Vista audio components business of DEI Holdings Inc., announced that it acquired New Jersey-based D+M Group, closing the sale on Feb. 28. Financial terms of the deal were not disclosed.
The sale brings two groups of high-profile audio brands under the same ownership.
Sound United is parent company to Polk Audio, Definitive Technology and Polk BOOM. It specializes in loudspeakers. D+M Group owns the Denon, HEOS by Denon, Marantz and Boston Acoustics brands. It specializes in audio and video receivers as well as wireless multi-room audio.
Pagemill Partners, a division of Duff & Phelps, acted as financial adviser to D+M Holdings. Goodwin Procter acted as legal counsel to Sound United, while Davis Polk & Wardwell acted as legal counsel to D+M Holdings.
Sound United CEO Kevin Duffy will serve as CEO of the combined company.
Charlesbank Capital Partners LLC, a Boston private equity firm, owns Sound United parent DEI Holdings. Directed Electronics, which makes car alarms, is the other business under the DEI Holdings umbrella. Darrell Issa founded the business before going on to represent northern San Diego County and southern Orange County in Congress. Charlsbank Capital Partners acquired DEI Holdings in 2011.