News

June 01, 2009

Audax Group Announces Merger of Pacific Accessory Corporation (PAC) and Peripheral Electronics

Audax Group today announced the merger of two of its holdings – Pacific Accessory Corporation™ (PAC) and Peripheral Electronics® – into a premier supplier of cutting edge OEM integration solutions. The combined entity will build on both companies’ long-standing positions as pioneering technology innovators and well-respected leaders of the mobile audio and electronics market.Customers and business partners of both companies can expect to see greater sales support, extended technical coverage and training, faster product development, broader product offerings, expanded global distribution, and an improved website.

Under the Audax Group-administered deal, PAC will officially become the OEM integration technologies provider for AAMP of America™, the parent company of Peripheral Electronics. Full integration of Peripheral into PAC is to be completed during the 4th quarter of 2009.

iSimple®, Peripheral’s successful iPod®, iPhone® and portable electronics integration brand, will continue to maintain its market presence. Dealers can expect to see an expanded line of consumer-focused products and technologies from iSimple in the next few months, as well as an exciting new website and marketing materials.

Young Lee, Managing Director, Audax Group, said, “For some time now, Audax has seen a great deal of synergy between AAMP of America’s Peripheral brand and PAC. By creating a strategic alliance between PAC and AAMP of America, we hope to vastly expand the technical engineering, supply chain,purchasing power, technical assets and marketing capabilities of both companies, better positioning them to meet the needs of today’s economy and tomorrow’s marketplace.”

PAC will continue to operate out of its new facility in Santa Ana, California, while Peripheral employees will work from the Clearwater, Florida-based AAMP of America corporate headquarters. Employees at both locations will be responsible for engineering, R&D, sales, training and tech support. Warehousing assets will be shared by both AAMP of America and PAC, expanding both companies’ ability to fulfill the global distribution needs of their customers.

According to Robert Wilson, Vice President of Sales at PAC, “We’re very excited about combining the strong suits of PAC and Peripheral and the future of our OEM integration business. We’re enthusiastic that the chief beneficiaries of this merger will be the dealers and distributors that sell our products everyday.”

The formation of a business partnership between AAMP of America and PAC is seen by both companies as a major benefit to anybody that sells, uses or installs their products. Both companies plan to use this opportunity to expand the scope of their nationwide dealer outreach and installer training programs, offer extended hours for their telephone customer and technical support services, launch new marketing and merchandising efforts, and develop new products and technologies that will fill the needs of consumers ina changing marketplace.

According to Ron Freeman, Chief Executive Officer of AAMP of America, “AAMP of America has defined itself as a company dedicated to providing the very best products, services and support to its customers for more than two decades. The team at PAC share that same vision, and I am incredibly enthusiastic about what this partnership means for both companies.”

About

About Pacific Accessory Corporation (PAC):
Since 1976, when the 8-track player was the iPod of the day and radio replacement required tons of cutting and splicing, the Pacific Accessory Company (PAC) has been manufacturing high quality mobile electronics interfaces – steering wheel controls, iPod® integration, Bluetooth®, back up cameras, radio replacement units and more – that satisfy the needs of even the most demanding customer. PAC’s patented and award-winning products deliver the performance and functionality car owners and enthusiasts deserve. For more information, please visit www.pac-audio.com.
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About AAMP of America:**
AAMP of America is a global supplier of a broad spectrum of mobile audio/video accessories, installation supplies and OEM integration solutions. AAMP of America brings many new technologies to the forefront including: convergence of personal audio devices into the automotive environment, integration of mobile video into OEM systems, and storefront point of purchase profit centers. AAMP of America produces and/or distributes products from numerous brands, including Stinger Electronics®, Peripheral Electronics®, iSimple®, Best Kits & Harnesses®, Sound Quest™, Parrot®, EGO®, NAV-TV®, Exonic®, iDatalink™ and Street Eagle™. For more information, visit www.aampofamerica.com.

Contacts
Audax Private Equity
Young Lee
Managing Director
(617) 859-1532

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