SOURCE: Charlesbank Capital Partners

Charlesbank Capital Partners

June 22, 2011 16:37 ET

Charlesbank Capital Partners Announces Investment in DEI Holdings

BOSTON, MA--(Marketwire - Jun 22, 2011) - Charlesbank Capital Partners announced that it has closed its acquisition of DEI Holdings. Based in Vista, California, DEI is the largest designer and marketer of premium home-theater loudspeakers and consumer-branded vehicle security and remote-start systems in North America. The transaction was funded with both equity and debt. General Electric Capital and OPY Credit, an affiliate of Oppenheimer & Co., provided the debt financing.

Founded in 1982, DEI offers a broad portfolio of high-performance audio products marketed through the Polk Audio and Definitive Technology brands. Products include home theater speakers, outdoor speakers, surround sound systems, subwoofers, surround bars, iPod docks and headphones. The company's Directed Electronics division is the leading supplier in the automotive security and control market, selling products under Viper, AutoStart, Avital and other brands. DEI enjoys a diverse and stable customer base, having forged relationships with more than 3,700 retailer customers. In addition to Southern California, DEI has operations in Baltimore and Montreal, as well as in Europe and Asia.

Jim Minarik, President and CEO of DEI, said, "Charlesbank has a strong track record of helping its portfolio companies grow, and we are pleased to have formed a partnership that will benefit our customers, employees and shareholders. With Charlesbank's support we are better prepared to expand our vision and capture the significant growth opportunities available in the global marketplace."

"DEI's reputation for premium quality and innovation has generated tremendous customer loyalty and strong brand equity," said Michael Choe, Managing Director at Charlesbank. "With an exciting slate of new product offerings under development, DEI is well-positioned to extend its leadership in the space and capitalize on industry growth as the economy rebounds. We look forward to working with Jim Minarik and his exceptional management team to achieve their goals."

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. Visit www.charlesbank.com for more information.

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