Many companies are brand names known across the nation or the globe, but Voxx International is probably the best-known, least-known company you’re likely to find. It has always been the business “behind” the brands. The company, which in 2015 moved its headquarters to Florida and kept large operations in Hauppauge, always grew by acquisition.
Voxx continually turned up the volume on its (mostly) audio business, acquiring Acoustic Research, Advent, Code Alarm, Invision, Jensen, Klipsch, Prestige, RCA, 808 Audio, and Terk and others.
That’s in addition to brands such as Audiovox, Hirschmann, Heco, Incaar, Oehlbach, Mac Audio, Magnat, Schwaiger, and others.
But rather than simply selling product, Voxx has reached a deal to sell the company in what’s likely the final chapter of a long acquisition binge, as it’s acquired by a Michigan-based Gentex for $7.50 a share or $196 million.
Zeeland, Mich.-based Gentex, a public company founded in 1974 and listed on the NASDAQ as “GNTX,” is slated to acquire Voxx, whose own history dates back many decades.
Ari Shalam, one of founder John Shalom’s sons and VOXX chairman, said "the transaction with Gentex ensures a seamless transition for our brands, employees, customers and partners.”
The deal is expected to close during the first quarter of 2025, subject to stockholder approval, anti-trust regulatory approvals and other customary closing conditions.
The Shalam family beneficially owns about 1.9 million of Class A shares, with more than one vote per share, and 2.3 million Class B or standard shares, combing for about 57% of voting shares, equaling about $31.5 million for the family at $7.50 per share.
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