Broadcast tech provider GatesAir has its second new owner in three years, as Saothair Capital Partners, a private equity firm based in Wayne, PA, has completed its acquisition of the company through a newly formed affiliate.
GatesAir was previously owned by France-based Thomson Broadcast following a deal announced at NAB Show 2022 in Las Vegas and completed that following August. The company will remain headquartered in Mason, OH, with manufacturing operations in Quincy, IL, and Brescia, Italy.
Barbara Spicek will continue as President and CEO.
Saothair, co-founded by Richard Lozyniak and Kevin Madden, specializes in investments in middle-market manufacturing and industrial firms. This acquisition follows its recent purchase of another well-known broadcast technology brand, Air Products & Controls, and the closing of a second fund totaling $300 million in commitments.
Terms of the GatesAir buy were not disclosed. McGuireWoods LLP advised Saothair, while GatesAir was represented by Akin Gump Strauss Hauer & Feld LLP, with GLC Advisors LLC serving as financial advisor.
Madden stated, “GatesAir holds a strong and enduring position in the global broadcast industry, built on a century of innovation and reliability. We are excited to partner with Barbara and her talented team to further scale the business, broaden its geographic presence, and expand its portfolio of turnkey broadcast and communications solutions.”
Lozyniak remarked, “GatesAir has earned the trust of broadcasters worldwide through its customer-first culture and dependable solutions. We look forward to building on that foundation of trust while investing in the next phase of growth.”
Spicek added, “It reflects an unwavering reliability that broadcasters depend on worldwide. Saothair’s partnership empowers us to accelerate innovation, bolster customer support, expand our market leadership, and deliver the breakthrough technologies that will define the future of over-the-air content delivery.”
