LOS ANGELES, CA, April 15, 2021 /ACCESSWIRE/ – JLab Audio (JLab), a leading personal audio brand, has agreed to be acquired by Japan-based Noritsu Koki Co., Ltd. (7744) (Noritsu Koki) for $370 million (USD).
Founded in 2005 and based in Carlsbad, California, JLab is the No. 1 seller of headphones under $50, the No. 1 seller of true wireless earbuds under $100 as well as the No. 1 kids’ headphone brand in the U.S., according to NPD. Driven by its relentless focus on innovation, visionary leadership, and unique, accessible brand positioning, the company has experienced rapid growth over the past several years, gaining broad retail distribution in over 20,000 doors for its extensive product portfolio.
“We’re incredibly excited to have found a partner such as Noritsu Koki. 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,” commented Cramer.
“We could not be more pleased to announce another successful cross-border strategic transaction for our practice, particularly for an exciting brand like JLab,” said Gary Rabishaw, Managing Director and Head of the Commercial & Consumer Technology practice at Intrepid. “We have been building our international network for nearly two decades, specifically to deliver superior results and options for our clients. We congratulate the teams at JLab, Catalyst Holdings, Eagle Private Capital, and Petra Capital Partners for building a truly differentiated leader in the highly competitive personal audio space. We see tremendous opportunities and synergy between these two companies and are excited to see JLab leverage NKC’s international platform to drive its next stage of growth.”
Based in Tokyo, Japan, NKC is a diversified holding company whose subsidiaries engage in manufacturing and healthcare activities. In April 2020, Noritsu Koki completed the acquisition of AlphaTheta, which offers professional DJ equipment under several brands, most notable Pioneer DJ. SXA (Oaklins Japan) served as the financial advisor to Noritsu Koki on the acquisitions of both JLab and AlphaTheta. The companies have signed a definitive agreement and the transaction is expected to close in the second quarter of 2021.