Eden Prairie, MN (January 26, 2011)–Williams Sound has completed a recapitalization of the company, with financing provided by Cardinal Equity Partners, a private equity firm based in Indianapolis, IN.
Williams Sound designs and manufactures wireless listening systems for group and personal hearing assistance, guided tours, and language interpretation, using FM, Infrared, Digital, and Loop technologies
“We are excited to partner with Cardinal Equity to achieve our shared vision of accelerating growth in our core business and to pursue new growth opportunities,” says Paul Ingebrigtsen, President and CEO of Williams Sound. “We were attracted to Cardinal Equity partners because of their approach to long-term growth strategies, and a close cultural and philosophical fit. Cardinal brings management and financial depth to the table, along with a proven track record of growth and stability.”
According to John Ackerman, Principal Partner of Cardinal Equity, “The recapitalization facilitates the liquidity needs of former shareholders and will allow us to capitalize on significant growth opportunities the management team has identified. We were attracted to Williams Sound because of its proven success in the market, an excellent management team who remain with the business and retain significant ownership of the company, and the exciting growth prospects we see for the company.”