Biamp is bought, Rashid Skaf takes the helm
Biamp Systems has been bought by private investment company Highlander Partners in a deal led by former AMX head Rashid Skaf, who will take up the role of president, CEO and co-chairman of the US manufacturer.
The company’s president and CEO Matt Czyzewski will remain as executive vice president of technology.
Highlander Partners purchased Biamp from Lomar Corporation, which will retain a minority investment in Biamp.
Skaf led AMX for 15 years before selling to Harman Industries in 2014. Since then he has advised investment groups, eventually joining Dallas private equity company Highlander Partners as a senior advisor.
In a press release Skaf said: “I’m extremely excited to have the opportunity to join another truly iconic brand in the AV industry. Even while CEO of AMX, I was intimately familiar with Biamp and developed deep respect for its products, brand, and organization. So much so that I sought to acquire the company several times over the past 10 years. I’m delighted to have the opportunity to join and lead the Biamp team. I have no doubt that together we will usher Biamp into an exciting new period of growth and industry leadership that will benefit the company and its employees and channel partners.
Biamp is one of the most successful professional audio management companies in the world. Despite its undeniable leadership position, I see clear opportunities to grow market share of its current products and expand into new markets through an aggressive program of internal development and company acquisition. I will soon reach out to the many excellent suppliers and industry partners Biamp works with today, and those others I worked with in the past, to build a passionate community committed to meeting mutual growth objectives. I consider the excellence of our extended community of partners to be a critical factor in the future success of Biamp.”
Also in a prepared statement Mike Nicolais, vice chairman and CEO of Highlander Partners, added: "Highlander’s investment philosophy is to buy and build. It seeks to build value in enterprises by finding well run, profitable businesses in healthy industries that have the potential for significant future growth through both organic expansion of the existing business and strategic additions of complementary acquisitions. Biamp is an excellent platform company to implement that same strategy in its industry."