Broadcast Electronics has had several owners over the years and now it’s owned by one of its own employees.
IIC Acquisitions, founded by BE’s VP of Engineering Brian Lindemann, has acquired all outstanding units and increased his ownership stake in the company to 100%.
BE President/COO Tom Beck says “BE has been owned by a number of private equity firms over the years and this is the right ownership direction at the perfect time as we look to the future.”
Lindemann joined BE in 2008. Saying he recognizes the potential of the company, BE’s name is well-known worldwide. From a business standpoint “We’ve had three terrific years and have had a great start in 2016, I am excited about our near and long-term prospects and once again putting our focus in the technology arena.”
BE is undergoing a lot of management changes. 40-year employee Tim Bealor stepped down as president and CEO last August to become Director Emeritus; he retired in December.
The radio broadcast transmission manufacturer was founded in 1959 in Silver Spring, Maryland and moved to Quincy, Illinois in 1977.