MidCap Financial provided a $98.9 million senior secured credit facility to Wave Electronics. Proceeds from the credit facility were used to support Company’s acquisition of KOA Electronics Distribution Inc. (“KOA”) and will support growth and ongoing working capital needs.
Founded in 2002, Wave Electronics is headquartered in Houston, Texas, and is the largest independent CI (Custom Integrator) distributor in the nation. Wave Electronics services local and national dealers that span across multiple channels of business that include residential/commercial A/V, and security. Wave Electronics is recognized as the "one-stop" solution with over 8000 stock items from 86 premium manufacturers. Wave Electronics locations incorporate training facilities and lavishly merchandised showrooms for dealers to use as their own. Wave Electronics also goes the extra mile by offering a broad variety of services to their custom integrators, which includes delivery, financial support, sales and product training, marketing services, 24/7 dealer online shopping, and much more.