SpeakerCraft Sold to Nortek

Jul 17, 2003 12:00 PM, Editors


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SpeakerCraft, a manufacturer/marketer of architectural speakers and related custom install products, will join a family of audio/video companies owned by Nortek’s subsidiary.

Jeremy Burkhardt, SpeakerCraft president and co-founder, said that the sale would enable SpeakerCraft to "accelerate growth and enter new product categories," which he could help direct "as an owner in the parent company.

"This team up with Nortek creating one of the largest groups of custom product manufacturers is a monumental move in the custom installation market," Burkhardt continued. "As custom installers, we know how frustrating it is to have different technologies that basically do the same thing. We will share technology and we will develop new products that will help our dealers simplify the installation process."

He said that SpeakerCraft does not intend to change its current sales or distribution policies, increase the number of dealers in a given market or change its select limited-distribution philosophy. "Exclusivity is a major reason why SpeakerCraft has performed as well as it has," he said. "Product performance and customer service are the ingredients that have made SpeakerCraft the largest architectural loudspeaker manufacturer in the industry. We sold to Nortek because we want to be leaders in the industry and we want to win. Our collective talent pool is tremendous: No other team can compete with what we have put together. This team enables all of us to capitalize on our respective engineering expertise. Meantime, our strategy will be to continue helping our dealers to grow and continue to increase our market share."

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