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Trinity Investment Partners Invests $4 Million in Harvey Electronics, Inc.
November 13th, 2006 No comments
Harvey Electronics, Inc. announced recently that it has secured $4 Million equity infusion into the Company.
“With this new growth capital, Harvey is now positioned to take greater advantage of the rapid growth in home theater, multi-room audio and advanced home control systems in the Metro New York area,” said Martin McClanan, Interim Chief Executive. “We can now invest in innovation in our stores, marketing, internet and technology which will keep Harvey’s customer experience second to none.”
The Company also announced the appointment of a number of experienced leaders to join the Company’s Board. Andrew Stackpole, the Company’s new Chairman commented, “High-end New York audio visual customers deserve to receive the best system design and installation services possible. The new leaders on the Board will help Harvey take its strong brand and organization to the next level.”
Andrew Stackpole is a skilled financial industry executive. He is a founder and has been Managing Partner of Trinity Investment Partners. Prior to founding Trinity, he held leadership positions in a number of financial institutions including: Managing Director in the Global Consumer Products group of Merrill Lynch; Managing Director in the Mergers & Acquisitions department of Bear Stearns; Executive Director at SBC Warburg.
Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area. The Company currently operates a total of nine locations; eight Harvey showrooms and one separate Bang & Olufsen branded store. There are two Harvey locations in Manhattan and six suburban locations around the Metropolitan New York area. The Company also has a Bang & Olufsen showroom within the Harvey retail store in Greenwich, Connecticut.
Audio Video International, a well-respected trade publication, has named Harvey Electronics a national “Top Ten Retailer of the Year” seven years in a row. Zagat’s 2006 New York City Shopping guide comments that at Harvey, “you won’t be disappointed.”
For more information and showroom locations, visit our website at www.harveyonline.com
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