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Broadcast Electronics announced March 5 that it has been acquired by a new ownership group headed by CEO Rich Redmond and majority investor The Alzana Group, a Boston-based investment firm.
The transaction was structured as an asset purchase from the previous owner, Elenos S.r.l., of Italy. The company said it will continue to operate under the Broadcast Electronics brand, but within a new legal entity named BE Systems Inc.
Broadcast Electronics, founded in 1959, supplies hardware and software products to the global media and broadcast industry. Redmond said the acquisition marks the beginning of a new phase for the company.
“Since 1959, Broadcast Electronics (BE) has been serving the global media and broadcast industry with a complete line of hardware and software products,” Redmond said. “I could not be more excited to launch the next chapter in the history of BE, dedicated to customer-focused innovation and new products that will deliver breakthrough capabilities to our worldwide radio broadcast customer base.”
Accelerating aggressive growth ambitions
Redmond, who will become a significant owner in the company, said he is looking forward to working with The Alzana Group as the company develops its strategy. “I enthusiastically look forward to collaborating with John Danner of The Alzana Group to strengthen our capabilities, accelerate our aggressive growth ambitions, and redouble our commitment to excellent customer service,” he said.
Danner, founder and chairman of The Alzana Group and former chairman of GatesAir from 2017 to 2022, said the investment reflects the firm’s interest in companies with growth potential in the broadcast sector.
“The Broadcast Electronics investment is an ideal example of Alzana’s commitment to providing capital solutions to businesses with tremendous, untapped potential,” Danner said. “We view radio broadcast as an underserved market in great need of newer technology, better service and a partner 100% focused on meeting and exceeding the needs of radio broadcast customers across the globe. We believe that BE’s top-notch management team, strong brand name and exciting growth opportunities make it an ideal platform acquisition.”
Financial terms of the transaction were not disclosed.
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