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Covington Associates and CRX Partners Join Forces to Serve the Media Technology Market Sector

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— Industry Veterans Partner to Offer Financing and Mergers & Acquisitions Services for Audio & Video Industries —

Covington Associates and CRX Partners announce they have joined forces to provide comprehensive financing and M&A advisory services to media technology companies in the audio & video professional, consumer, broadcast, internet and related sectors. The principal members include Covington Associates’ core Digital Media team members Ethan Jacks and John Bowen, as well as Roland MacBeth and Courtney Spencer, Managing Partners of CRX Partners.

The Covington/CRX team collectively brings a proven track record and extensive expertise in the broadcast, pro/commercial audio & video, MI, and consumer/residential AV sectors. The team provides strong guidance for businesses looking for financing or considering M&A options throughout the planning, execution and closing stages based on a thorough understanding of the strengths and synergies of sellers and potential buyers, and strong connections to a wide network of strategic and financial investors and buyers.

Covington Associates’ Digital Media team has more than 50 years of experience in the media technology markets, with specific industry expertise in investment banking, corporate development, finance, legal matters, Wall Street research and sales, for both privately held and publicly traded companies. The team’s combined expertise in film, broadcast, service provider and new media markets ranks among the leaders in the industry. Ethan Jacks was a senior executive at Avid Technology for 7 years, and drove 12 strategic acquisitions which doubled Avid’s revenues to over $1 billion. A former Wall Street research analyst, John Bowen has completed several high-profile acquisitions with Google, Sony, Grass Valley, Miranda and others.

CRX Partners serves the media technologies industries as strategic and business development consultants, with a special focus on the audio sector. Partners Courtney Spencer and Roland MacBeth have held senior executive positions and consulted for some of the best-known companies in the industry. Working together at D&M Holdings, MacBeth and Spencer played key roles in the acquisition and integration of Calrec and Allen & Heath, which served to establish a solidly successful pro division for D&M. CRX’s current clients include manufacturers, technology licensors and national distributors in North America, Europe and Asia.

Ethan Jacks, Managing Director of the Digital Media practice at Covington Associates, said, “Courtney and Roland bring broad management and consulting experience in virtually all sectors of the audio business. We are excited to be working with them and believe their deep knowledge of these segments will help us provide unique capabilities to many current and new clients.?

Courtney Spencer, Managing Partner of CRX, said, “We are very pleased to join forces with Covington Associates. We believe that the combination of Covington’s deep M&A and capital raise expertise in the media technology sector and our audio-centric knowledge and background gives us the ability to meet the needs of our clients in a very comprehensive way.?

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