SnapAV has announced that affiliates of Hellman & Friedman (H&F) have entered into a definitive agreement to acquire the company from its current private equity partner, General Atlantic.
According to John Marchionda, VP of sales at SnapAV, the transition is a result of Snap’s ongoing expansion. “This change is really just indicative of our growth and success of our company,” he said.
Marchionda assured those involved closely with the supplier—which wholesales approximately 2,700 SKUs across 14 proprietary brands and serves integrators across the United States—that the transition between equity partners will be seamless.
“Nothing’s really changing—nothing’s changing for our dealers, operationally, for our leadership—we’re just going to continue to invest in the things we’ve been investing in, and our new partner positions us to do that really well,” Marchionda said.
“We thank General Atlantic for their contributions to SnapAV’s growth and development over the past four years, and welcome Hellman & Friedman as our new partner,” John Heyman, CEO of SnapAV, said in a statement. “Hellman & Friedman’s industry expertise and outstanding track record of helping companies like us grow will serve us well as we continue to execute on our strategy of providing great products and exceptional service to our dealer customers.”
“SnapAV’s innovative e-commerce platform, compelling products, and excellent service deliver tremendous value to the integrator community,” said Erik Ragatz, managing director of Hellman & Friedman, in the statement. “With its network of loyal dealers and an outstanding base of employees, SnapAV is very well positioned to continue on its growth trajectory. We look forward to partnering with John and the rest of the management team as the company moves into its next phase of growth.”
The transaction is expected to close in the third quarter of 2017. Additional terms have not been disclosed.
