M&A · Tech · Wholesale-Electronic Parts & Equipment, NEC
Gentex Corp to acquire VOXX International Corp
Announced Dec 18, 2024 · Closed Apr 1, 2025
Deal value$196MEV $196M
Premium163.0%To unaffected price
EV / Adj. EBITDA—0.5x EV / Revenue
ConsiderationAll cash$7.50 per share
Transaction
- Acquirer
- Gentex Corp (GNTX)
- Target
- VOXX International Corp
- Buyer type
- Strategic
- Offer price per share
- $7.50
- Enterprise value
- $196M
- Status
- Closed Apr 1, 2025
Deal protections
- Break fee (target pays)
- $7.5M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Solomon Partners
Sector context · Tech
- Comparable deals
- 59 in the prior 24 months
- Premium
- 163.0% vs. 38.0% sector median
- EV / Adj. EBITDA
- Sector median 15.5x
- Break fee
- 3.8% vs. 3.1% sector median
Timeline
- AnnouncedDec 18, 2024
- Proxy filedJan 27, 2025
- Definitive proxyMar 3, 2025
- Shareholder voteMar 31, 2025
- ClosedApr 1, 2025
Valuation · fairness opinions
52-week trading range$2.32$11.45
Sum of the parts$4.29$6.23
Offer $7.50
Implied value per VOXX International Corp share by analysis, from Solomon Partners.