Legrand Acquires NuVo Technologies
Legrand is a global manufacturer that offers products in many industries. The company’s acquisition of NuVo Technologies enables the company to gain instant credibility in the residential audio market’s whole-house audio category.
In a statement released Thursday, Nov. 15, Legrand says NuVo’s product line will support its other residential electronics business units.
“NuVo Technologies is an ideal complement to Legrand’s existing home system offerings in the U.S. where it is already a frontrunner in both structured wiring for housing [OnQ and UStec] and top-of-the-range residential lighting controls [Vantage],” says the company in a press statement. “With a network of 40 distributors and around 1,000 dealers in the United States, NuVo Technologies will also strengthen Legrand’s sales reach in the U.S. market for home systems. Simultaneously, NuVo Technologies will build on Legrand’s commercial network to accelerate its own growth in this promising market.”
Legrand says it is also pursuing expansion opportunities in the digital infrastructures, energy performance, home systems and wire-mesh cable management categories, and according to the Legrand, these markets account for 25 percent of total group sales as of September 25, 2012. These figures, Legrand says, represent twice the revenues it earned in those markets a decade ago.
A Wall Street Journal Market Watch report states that NuVo is expected to earn revenues of nearly $20 million in 2012 with approximately two-thirds of those revenues coming from U.S. sales.
“The acquisition of NuVo is of strategic importance as it provides us with a leading position in the whole-home audio market. We are now able to overtake other industry players and rapidly bring affordable, easy-to-integrate audio solutions to market,” says John Selldorff, president and CEO of Legrand North America. “These include systems that are intuitive, plug ‘n play and user friendly. NuVo also strengthens our product lineup with its wireless audio distribution technology. This means we can provide consumers with better integrated home audio systems and wider choices of both wired and wireless products. NuVo Technologies places Legrand’s home systems offering in a different league. We now bring together the best in all core subsystems.”
“Being acquired by Legrand provides us with a vast array of upwards potential,” says David Rodarte, president of NuVo. “It allows us to take advantage of a number of important opportunities in key areas, including Legrand’s already well established relationships. They will provide us with the opportunity to utilize their vast resources in both people and technological capabilities that will catapult us into the next generation of audio delivery. Additionally, we gain access to a brand that is universally recognized and trusted in the electrical and home technology industries.”
The acquisition will see the NuVo leadership team remain in place and will provide NuVo employees with a wider choice of global career opportunities.
We last saw NuVo at CEDIA Expo 2012 demonstrating its whole-house wireless music system.