We are told that the acquisition expands Peerless-AV’s portfolio of audio visual technology, mounting, accessory and digital content delivery solutions with a high-demand product category providing new commercial and residential business opportunities for AV dealers, distributors, integrators and installation professionals.
The Ciil product line will join Peerless-AV’s portfolio of outdoor solutions including outdoor mounts and enclosures, enabling the AV community to purchase multiple components for outdoor installations from a single source.
Michael Campagna, President of the Peerless Technology Division told us “The market for outdoor TVs is growing rapidly in commercial settings, where weatherproof displays are replacing expensive enclosures, as well as in residential environments, where the backyard has become the new living room. With this acquisition, our customers can take full advantage of this expanding market sector.”
He added “At the same time, this is a strategic acquisition that extends the investment in emerging technology that led to last month’s announcement that we have formed a separate technology division. Our goal is to build a global technology business on a par with our global AV mounting solutions business. Acquiring Ciil is a key building block in that process.”
Under the terms of the agreement, Ciil’s manufacturing and operations will be relocated to Peerless-AV’s headquarters and 320,000-square-foot manufacturing facility in Aurora, Illinois, a suburb of Chicago.
Ciil products will now be produced in a dedicated 10,000-square-foot area within the Peerless-AV plant, including a 3,000-square-foot clean room for assembly and testing.
All Ciil TVs and displays will continue to be manufactured in the USA, all Ciil personnel and management will be retained, and Ciil products will continue to be sold under the Ciil trademark and the UltraView and Xtreme brand names.
The transaction closed on February 1, 2013. Financial terms were not disclosed.