Colorado Springs – Westone Laboratories Inc has announced that it has entered into a partnership with private equity firm CID Capital. The investment allows for Westone’s expansion, while also allowing the Morgan family, Westone’s founders, to pursue personal interests.
Westone was founded in 1959 and has grown to become a leading designer, manufacturer, and distributor of custom earpieces for hearing aids, custom hearing protection products, in-ear musicians’ monitors, premium earphones for personal listening, and specialty communication products for military and law enforcement agencies.
In addition to its recent press release announcing the new partnership, the company wrote a more personal message to its customers on its blog. Although unsigned, it is apparently from Westone’s CEO, Lynn Kehler, who writes:
As most of you are aware, the Morgan family founded Westone in 1959 and has contributed enormously to our growth and success over the last 52 years. Over the last couple of years, I have been working closely with the family to explore retirement options that will allow Westone to carry on and grow. We have spent a lot of time on this process to ensure that the option chosen will allow Westone to continue as a leader in the hearing healthcare industry and provide the quality products and service that you have come to expect from Westone.
I am excited to announce that Westone has a new partner, CID Capital! CID is a private investment group based in Indianapolis, Indiana. We are excited about this new relationship, as this will allow the existing Westone management team to continue to operate and build the business, while allowing members of the Morgan family to spend more time pursuing personal interests. We plan to continue to strengthen our hearing healthcare business, while also focusing on hearing conservation and custom hearing protection for recreation and industry. As you are aware, these have traditionally been Westone’s core businesses, and they will continue as a strategic focus moving forward.
The rest of the message goes on to describe CID Capital and its history of investing in companies like Westone.
SOURCE: Westone Laboratories Inc