Evercel Inc., a Massachusetts-based equity firm, and a group of co-investors has acquired Midvale’s Zagg Inc. Zagg is a designer, manufacturer and online retailer of mobile accessories for smartphones and tablets and sells under brand names such as ZAGG, mophie, InvisibleShield, IFROGZ, Gear4 and HALO. In addition to its online presence, Zagg products are sold at major electronics retailers.
“We admire the Zagg business and its portfolio of leading mobile lifestyle brands,” said Daniel Allen, CEO of Evercel. “We are excited to begin a long and successful partnership with the Zagg team.”
“We look forward to continuing to serve our customers through exceptional products and continued industry-leading innovation,” said Zagg CEO Chris Ahern. “We are excited about the support provided by Evercel’s ownership, expertise and resources.”
Evercel will be the majority owner of the holding company formed to acquire Zagg. The transaction is expected to close in the first quarter of 2021. Evercel is a publicly traded holding company that acquires and manages high-potential businesses which have been limited by their capital structure.