M&A Deal Summary

Garmin Acquires JL Audio

On August 7, 2023, Garmin acquired electronics company JL Audio

Acquisition Highlights
  • This is Garmin’s 3rd transaction in the Electronics sector.
  • This is Garmin’s 7th transaction in the United States.
  • This is Garmin’s 1st transaction in Florida.

M&A Deal Summary
Date 2023-08-07
Target JL Audio
Sector Electronics
Buyer(s) Garmin
Deal Type Add-on Acquisition

Target

JL Audio

Miramar, Florida, United States
JL Audio is a privately-held company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers. JL Audio is based in Miramar, Florida.

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Buyer(S) 1

Buyer

Garmin

Schaffhausen, Switzerland
Category Company
Founded 1989
Sector Electronics
Employees19,900
Revenue 5.2B USD (2023)
DESCRIPTION
Entrance to Garmin's flagship retail store on Michigan Avenue in Downtown Chicago, Illinois.
Entrance to Garmin's flagship retail store on Michigan Avenue in Downtown Chicago, Illinois.

Garmin and its subsidiaries have designed, manufactured, marketed and sold navigation, communication and information devices and applications since 1989 – most of which are enabled by GPS technology. Garmin’s products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin was founded in 1990 and is based in Schaffhausen, Switzerland.

DEAL STATS #
Overall 26 of 26
Sector (Electronics) 3 of 3
Type (Add-on Acquisition) 25 of 25
State (Florida) 1 of 1
Country (United States) 7 of 7
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Vesper Marine

Auckland , New Zealand

Vesper Marine is a provider of AIS, VHF and vessel monitoring solutions for the marine industry. Vesper Marine is based in Auckland, New Zealand.

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