Aamp of America, Tampa, FL, has purchased the brand, assets and certain intellectual property of Precision Interface Electronics (PIE), one of its competitors in car audio integration accessories.
The purchase, effective immediately will bring PIE into Aamp’s facilities and some of PIE’s management will continue at Aamp, said Aamp CEO Ron Freeman.
“Our integration plan isn’t complete, but we will integrate the company into our facilities and take over the product and development and re-establish a connection with PIE customers,” said Freeman. “We have 5 facilities and will bring those products into our various facilities.”
He added, “PIE has been a friend and a competitor for—it just celebrated 25 years in business. They are one of the few OEM integration companies in the world. It makes sense to bring those products and expertise into Aamp.”
PIE Founder and CEO Bill Summers said, “This acquisition is a positive outcome for our customers. As a leader in automotive integration devices and accessories, AAMP of America will be able to leverage its relationships to expand the Precision Interface Electronics product offerings and geographic footprint.”
Aamp also sells OEM integration under brands including PAC, American International, iSimple, Best Kits & Harnesses. It also owns the Phoenix Gold and Sound Quest brands.
The addition of PIE is part of a growth and investment strategy launched in early 2009 “to expand Aamp’s global presence as a leader in connected car technologies,” said the company.
PIE products range from OEM integration devices to wire, cable and car stereo installation accessories.
Aamp is a portfolio company of Audax Private Equity.
Source: Aamp of America