Private equity investor HgCapital has purchased loudspeaker system designer Teufel Speakers from The Riverside Company.

Private equity investor HgCapital has purchased loudspeaker system designer Teufel Speakers from The Riverside Company.

Riverside, which acquired Teufel in 2006, did not disclose the value of the deal, but says the company’s revenue and profits have more than doubled during its period of ownership, with staff numbers rising from 26 to 72.

Berlin-based Teufel also brought in a new management team during the period, led by CEO Thorsten Reuber.

Reuber comments, ‘We have grown much faster than would have been possible without [Riverside].  Thus we now look forward to continuing to work with a private equity investor like HgCapital.’

Teufel is a designer and retailer of high-end speaker systems, including home theatre systems.