CE Pro July 2021 - 19

SnapAV to Go Public; Invests in Parasol
SNAPAV HAS ANNOUNCED its intention to become a publicly
owned company. On May 12, Wirepath Home Systems,
LLC, dba SnapAV, submitted a draft registration statement
with the Securities and Exchange Commission (SEC) relating
to the proposed initial public off ering (IPO) of the company's
common stock.
The number of shares to be off ered and the price range for
the proposed off ering had not been determined at press time.
The initial public off ering is expected to commence after the
SEC completes its review process, subject to market and other
conditions.
The Charlotte, N.C.-based company has come a long way
since its beginnings back in 2005. The company was founded
by integrator Jay Faison, who owned and operated a custom installation
fi rm in the area. Faison realized that there were certain
components in custom installation that he could source more
eff ectively and profi tably directly from OEM suppliers overseas
for not just his own company but for other integrators too.
He recognized it was vital to his business model to maximize
his margin on those products, which included wire/cable,
equipment racks, structured wiring enclosures and mounts,
and those peripherals rarely if ever needed service.
In addition to sourcing its own products, SnapAV distributed
other brands to local dealers. The company's online ordering
portal soon became the industry standard for effi ciency; in
recent years it has acquired several industry distributors to
expand its brick-and-mortar footprint.
In 2013, Faison sold the company to General Atlantic and
has since become a philanthropist focused on environmental
issues. Current CEO John Heyman took the reins in March
2015. In June 2017, the company was acquired by Hellman &
Friedman (H&F).
Some other major milestones in the company's history include
in 2015 when SnapAV introduced its OvrC remote system
management platform that created an ecosystem that interconnects
various products, both SnapAV branded and others.
Key acquisitions in the past several years include leading
automation provider Control4 in 2019 and enterprise-grade
home networking provider Access Networks, which was announced
this spring.
In May, SnapAV announced an investment in Parasol, a provider
of 24/7 remote support solutions that enhance integrator
productivity and service levels. Parasol was launched in 2018
by a group of three CE Pro 100 integrators: Ted Bremekamp,
who spent years at ETC in Palm Beach, Fla.; Henry Cliff ord of
Livewire in Richmond, Va.; and Greg Simmons of Eagle Sentry
in Las Vegas. Simmons has subsequently joined SnapAV.
" SnapAV is doubling down to support our Partners in delivering
amazing end customer experiences over the lifecycle of a
CEO John Heyman says SnapAV continues to show its
commitment to integrators and customer service with its
latest moves.
project, " says Heyman. " As SnapAV and our integrator Partners
continue to grow, we expect that Parasol will be instrumental
in helping our Partners deliver exceptional post-installation
support to their customers. We view this as an investment in
the ongoing success of our Partners. " -Jason Knott
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cepro.com July 2021 CE Pro | 19
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© 2002 REV2009 Arlington Industries, Inc.
http://www.arlingtonlowvoltage.com http://www.cepro.com
CE Pro July 2021

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