NEW YORK, N.Y., October 7, 2013 – Falconhead Capital, LLC (“Falconhead Capital”), a New York-based private equity firm specializing in consumer, leisure, lifestyle, and media-related businesses, today announced the sale of Escort Inc. (“Escort”) to Monomoy Capital Partners, L.P.
Headquartered in West Chester, Ohio, Escort is the leading designer, manufacturer and distributor of highway radar and laser detectors. The company is widely known as an industry innovator in radar detection technology, and manufactures the popular Passport® line of detectors in addition to more than 20 radar and laser-related products. The company also sells its Escort and Beltronics brands domestically and internationally. Consumers purchase Escort products at such leading retailers as Best Buy, Amazon, Car Toys and many high end electronics and automotive retailers across the globe.
David S. Moross, Chairman and Chief Executive Officer of Falconhead Capital, said: “We are happy to announce the sale of Escort after helping build the business into the leading company in its sector. As a result of our partnership with Escort’s outstanding management team, led by CEO John Larson, the company has been able to continually innovate and successfully anticipate emerging trends in the mobile electronics market. In particular, the company has expanded its consumer offerings, launching a number of new and exciting products. Escort has also expanded into new markets around the globe. We wish Escort and its employees every success under its new ownership.”
Mr. Larson said: “We have continued to build on our brand during Falconhead’s ownership and our team has worked diligently to position our company to take advantage of the many growth opportunities on the horizon. Going forward, we plan to work hand-in-hand with our new partners to further increase our market share and expand our product offerings in our dynamic markets.” Larson concluded, “Finally, I’d like to thank our employees for their unrelenting focus on ensuring that our products remain the industry standard in consumer radar detection.”
Lazard Middle Market, LLC acted as financial advisor to Falconhead Capital and Escort in this transaction.
About Falconhead Capital, LLC
Falconhead Capital, LLC (www.falconheadcapital.com), with $500 million of assets under management, is a private investment firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in consumer-focused businesses. Falconhead Capital's current portfolio includes GPSI Holdings, Javo Beverage Company, NYDJ, Our365, and Rita’s Water Ice Franchise Company, LLC. Past Falconhead Capital investments include, among others, Competitor Group, National Powersport Auctions, Maritime Telecommunications Network (MTN), and ESPN Classic Europe, LLC.
About Escort Inc.
Escort is the leading designer, manufacturer, and distributor of the world’s most awarded highway radar and laser detectors. An industry innovator in radar detection technology with over 85% of the active patents in the industry, Escort manufactures more than 20 radar and laser-related products and sells them domestically and internationally under the Escort and Beltronics brands. The Company, with manufacturing facilities in West Chester and Mississauga, Ontario, distributes product though major retail outlets such as Best Buy, Amazon and Car Toys, as well as its online e-store at www.escortradar.com.