CID Announces Successful Sale of Westone Laboratories
CID Capital is pleased to announce its recent sale of Westone Laboratories (Westone). Based in Colorado Springs, CO, Westone is a leading designer and manufacturer of high-quality hearing healthcare and in-ear audio solutions, with products ranging from hearing protection devices and audiology supplies to custom hearing aid earpieces and high-fidelity earphones. Eric Bruun, Managing Director, stated "CID has a long history of successfully recapitalizing founder-led companies such as Westone. Westone is in CID's sweet spot and is a great example of a founder-led recapitalization where CID built upon a great team to unlock significant value. The management team identified operational improvements that boosted profitability while thoughtfully expanding the breadth and depth of new product offerings. The Westone leadership team delivered a great outcome for all shareholders and we wish them the best as they continue to expand and grow the company." Westone was an ideal CID investment for a variety of reasons: family-owned business; owner recapitalization; strong, consistent performance; stable cash flow generation; significant growth potential. CID Capital and Westone partnered with Enterprise Bank and Parkway Capital during the investment. Headwaters MB provided advisory services to Westone.
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