H.I.G. Capital, a leading Miami-based private equity firm, and Telecorps Communications announced the acquisition of Coffey Sound, a Hollywood, Calif.-based company that has served the audio industry for nearly two decades. Coffey Sound rents, sells and repairs audio equipment for the film and television industry, and has established itself as a key player in the industry through its early adoption and support of forward-looking audio technologies.
"We're very pleased to be partnering with Coffey Sound, a well-established and highly regarded company within California's audio production industry," says Rob McConnell, CEO for Telecorps Communications. "The knowledge, experience and reputation of Coffey Sound will be critical to our goal of building a strong presence as a provider of equipment and engineering expertise to the production and post-production markets."
"The financial backing provided through Telecorps will give us the freedom to grow our company infrastructure while continuing to add value through a personal investment in every client," says John Coffey, president of Coffey Sound. "We've always been dedicated to providing our customers with the tools they need to do their jobs well, and today we're positioned to serve the professional audio community better than ever."
Telecorps is comprised of three broadcast industry veterans with more than 120 years of experience in media and media technology. With the financial backing of H.I.G. Capital, the company is pursuing its focus on acquiring leading companies servicing the media and entertainment industries.
Telecorps' acquisition of Coffey Sound follows one month after its acquisition of Wexler Video, Hollywood's leading video production equipment rental company. At Coffey Sound, John Coffey will remain in his role as president of the company.