Stubbs Alderton & Markiles, LLP announced that it advised client Beats Electronics LLC in its definitive agreement to reacquire the minority stake in Beats held by HTC Corp. Stubbs Alderton also represented Beats in a minority investment transaction by The Carlyle Group (NASDAQ:CG), the global alternative asset manager. Carlyle will work with the Beats management team to continue expanding the brand and building the business both domestically and internationally. The transaction is expected to close in the fourth quarter of 2013.
Beats Co-Founder and Chief Executive Officer Jimmy Iovine said, “These transactions represent the evolution of the financial strength and significant growth prospects of Beats. Carlyle is a fantastic investment partner and we look forward to building the next chapter of Beats.”
SAM Partner Scott Galer advised Beats Electronics LLC in this transaction.
To read the full press release, click here.