Custom installation firm Sounds Good Corp. in Waltham. Mass. has acquired simpleHome in Westborough, Mass. Terms were not disclosed, but both staffs and offices will be maintained.
Two long-standing Massachusetts-based custom installation companies are now one. Sounds Good Corp. in Waltham, Mass., has acquired simpleHome of Westborough, Mass. The newly combined company will operate under the Sounds Good brand name. All 10 employees from both companies will be staying onboard with office locations being maintained. Terms of the deal were not disclosed.
Sounds Good was founded in 2002. simpleHome has been around since 2004. The combined revenues of the companies are not being revealed but Mark Komanecky, founder of simpleHome, notes that the company has revenues “well above” the industry-wide averages for revenue per employee. Using data from the most recent CEDIA Benchmarking Study that showed the industry’s revenue-per-employee average at $194,495, that would mean the combined revenues are at least $2 million.
Both companies were profiled in CE Pro back in 2007 before the recession hit. At that time, Sounds Good had revenues of $4.2 million. Since, then president Greg Brett has moved away from the high-volume business model to a higher-end model that focused on working with architects, builders and interior designers. Brett bought out his former partner Robin McCune last year. Meanwhile simpleHome, run by Mark and Eileen Komanecky, earned $1 million back in 2007
According to both principals, the unification brings together two companies with different strengths that complement each other. simpleHome has a strong recurring monthly revenue (RMR) focus with a proven Proactive Service Program (PSP) that includes scheduled service calls twice per year.
Article Published By Jason Knott of CE Pro, September 8, 2014
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