Broadcast Electronics Gets New Majority Owner
Jan 19, 2010 4:51 PM
Quincy, IL - Jan 19, 2010 - At the end of 2009, Broadcast Electronics saw a change in its ownership structure. Firstcity Crestone is now the majority owner of the manufacturer of transmitters and computer-based technology systems.
While some may see a change in ownership as a sign of trouble, Broadcast Electronics notes that it's anything but. Look back at the history of the company, in 2006, Audax, an investment group obtained the controlling interest of the broadcast company. A key investor in Audax was GE Capital.
Like many financial groups, GE Capital has experienced some tough times, and near the end of 2009, it reviewed some of its investments. Some companies were liquidated, while some investments were sold, which is the case for Broadcast Electronics. GE Capital sold its interest to Firstcity Crestone, making Firstcity the majority owner of BE.
According to Broadcast Electronics, business goes on as usual for the company, and the investor shift actually helps the company with its managed debt.
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