JLab Audio — a producer of personal audio products including Bluetooth earbuds, headphones and speakers — has been acquired by a new equity owner, Tokyo-based Noritsu Koki, in a deal totaling $370 million.
The private equity firm will provide JLab with additional resources, including product innovation and worldwide retail expansion, while keeping its core operations intact.
Noritsu Koki acquired JLab from the company's previous private equity owner. The transaction is on pace to close in the second quarter of 2021.
"We're incredibly excited to have found a partner such as Noritsu Koki," said Win Cramer in a statement. "They have a proven track record of being one of the best equity partners for growing brands. If you look at their previous investments, it's easy to see how their approach has helped brands continue to see success by providing the extra capital needed for expansion while at the same time allowing the brands to focus on the core competencies that brought them success in the first place."
JLab will continue operating as an independent company under the JLab name, with its sales, marketing, product development, finance, support and operations teams remaining in San Diego. Win Cramer will continue to act as CEO for JLab alongside the current management team.