LOS ANGELES, CA--(Marketwired - October 13, 2016) - Vicente Capital Partners (VCP) announced today the sale of VXi Corporation (VXi) to GN Audio (CSE: GN). VXi Corporation is a leading headset provider of best-in-class, noise cancelling headsets designed for call centers and offices, as well as professionals on the go.
Vicente Capital acquired VXi in 2012 and the transaction generated a purchase price multiple approaching 9x. Following VCP's investment, VXi was able to expand its product line, distributors and double its number of retail stores, leading to improved operational and financial performance. Led by CEO Mike Ferguson, VXi successfully continued the growth of its flagship BlueParrott headset brand with the launch of the B350-XT and B450-XT which helped it create the number one headset for professional truckers and drivers. Also, VXi was successful in offering its product at Best Buy, Verizon and U.S Cellular, among other retailers. VXi will become an important contributor to GN's efforts to continue to gain share in verticals like trucker, warehouse and call centers.
"We are excited to complete the sale of VXi to GN. This was a very significant investment for Vicente Capital's Growth Equity Fund and is a great exit for our limited partners. It is also a strong testament to our exceptional management team, led by CEO, Mike Ferguson. His experienced team was able to consistently grow VXi, both top and bottom line, in a highly competitive environment with differentiated products that appealed to GN," stated Klaus Koch, Managing Partner of Vicente Capital. "GN's worldwide leading position in the headset market will serve VXi's customers and employees well going forward," added Mr. Koch
Mike Ferguson, CEO of VXi Corporation, said, "We thank Vicente Capital Partners for their contributions to VXi Corporation's growth and development over the last four plus years. Vicente helped us create the leading Bluetooth headset brand, BlueParrott, in the Global Trucker and Mobility markets. Vicente has provided us with strategic guidance and support of our growth plans right from the start."
Intrepid Investment Bankers provided Vicente Capital Partners and VXi Corporation with sell-side advisory services and Kirkland and Ellis led VCP's and VXi's legal services on the transaction.
About Vicente Capital Partners
Vicente Capital Partners is a private equity firm specializing in both non-control and control investments in growth businesses that have annual revenues between $5 million and $25 million. The firm's investment professionals have a long and successful track record of partnering with management teams to create and realize value across a number of different industries including: Business Services (outsourced services, Internet services, telecom services); Consumer Services (healthcare services, residential delivery, education); and Specialty Manufacturing (aerospace & defense, environmental products, networking/telecom equipment). Prior investments of the VCP principals include: Overture, Rent.com, Cogent Communications, Sensor Systems, Transoft Networks, CaseStack, O2 Science, Vermont Composites, and iBwave Solutions, among others.
Current investments include: SMT (SportsMedia Technologies), MedBridge Healthcare, Campus Explorer, ITI (Intellectual Technology, Inc.), and Global LT.
For more information about Vicente Capital Partners, please visit www.vicentecapital.com.
About VXi Corporation
VXi provides best-in-class, noise-canceling headsets, telecommunications and speech recognition solutions for call centers and offices, as well as professionals on the go in high noise environments. From Bluetooth® to Unified Communications, VXi's headsets meet the highest global standards for product quality and service, backed by the industry's best warranties. Founded in 1989, VXi has grown from its roots in Dover, New Hampshire into an international organization with over 300 resellers and distributors selling in the U.S., Canada and Europe.
For more information about VXi, Learn more at www.vxicorp.com.