Private investors buy Radio Systems Corporation, but company will stay in Knoxville
Radio Systems Corporation, the leading pet product company that was founded by Randy Boyd, will stay in Knoxville after being acquired by Clayton, Dubilier & Rice (CD&R), an international private investment firm.
The company designs and sells pet products under name brands including Invisible Fence, PetSafe, ScoopFree, SportDOG, Kurgo and more. In 1991, Boyd headquartered Radio Systems in Knoxville. The company has more than 800 employees worldwide.
Terms of the transaction were not disclosed, but a release from the company stated that headquarters and top personnel will stay in Knoxville.
After reviewing nearly a dozen offers, Radio Systems' board of directors unanimously approved the transaction. Keeping the company in Knoxville was a huge motivator for the sale, the release said.
The deal is expected to close in June.
According to the release, John Compton, one of CD&R’s partners, will become chairman of Radio System Corporation's board of directors. Compton is the former president of PepsiCo, on the board of directors of First Horizon National Corporation and is a chair on The University of Tennessee's board of trustees.
Randy Boyd will continue to serve on the board of directors.
Source: Knoxville News Sentinel, by Allie Clouse
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Published May 14, 2020