tvONE completes MBO from Nortek
Video processing equipment manufacturer tvONE, has announced a friendly management buyout of the company from previous owner Nortek.
The acquisition was completed July 31, 2015, with the new executive team comprised of tvONE management; David Van Horn, David Reynaga and Andy Fliss, with continued active involvement of Frithjof Becker and Richard Mallet
"We are extremely excited about independently driving the future of the company," said Andy Fliss, VP, sales and marketing. "This management group intimately knows and cares about our co-workers, and we are prepared to solidify tvONE’s philosophical principles and chart a company plan geared for growth and success."
tvONE CTO, David Reynaga, added, "We have the right building blocks and passion to deliver memorable customer experiences though innovative products and, we are absolutely committed to providing unrivalled service and support."
The company expects to operate smoothly through the transition with no changes in customer-related activity. David Van Horn, tvONE CFO, stated that, "The friendly MBO arrangement with Nortek has put tvONE in an excellent position for continued growth and success into the future."