VE Partners has successfully divested its stake in Premium Sound Solutions (PSS),a leading player in manufacturing speakers, with a primary focus on the automotive sector. The stake sale follows the recent acquisition of PSS by Chinese technology company AAC Technologies, a transaction valued at nearly $525 million.
This strategic decision marks the conclusion of VE Partners’ association with PSS and signals a new phase for the renowned audio solutions provider. The divestment allows VE Partners to realign its investment strategy while ensuring the continuity of PSS under new ownership. The transaction is slated for completion in the second quarter of this year, subject to approval from the Authority Consumer and Market (ACM).
PSS is a significant player in the audio solutions industry. In 2022, the company achieved a milestone by producing over 110 million speakers and integrating them into two hundred different car models. As the transaction awaits approval from the Authority Consumer and Market, VE Partners anticipates a positive trajectory for both its diverse portfolio and the continued success of Premium Sound Solutions under the ownership of AAC Technologies.