Private equity firm Hellman & Friedman LLC is purchasing SnapAV, a manufacturer of audio and video (AV) products, from General Atlantic for an undisclosed amount.

From projectors to music speakers, SnapAV sells branded audio, visual, security, automation and networking products. The Charlotte, North Carolina-based target manufactures and sources more than 2,700 AV products through 14 brands. The deal is expected to close in the third quarter of 2017.

Hellman, which was founded in 1984, is a San Francisco-based private equity firm. The firm backs companies in a variety of sectors including technology, media and telecommunications, finance, insurance and industrial. The firm raised $10 billion for its eighth fund in 2014 and also sold education software provider Ellucian Co. to TPG Capital and Leonard Green & Partners in a leveraged buyout reportedly valued at $3.5 billion. In March 2015, the firm sold mining research business Wood Mackenzie to Verisk Analytics Inc.

General Atlantic is a middle-market private equity firm based out of New York City. The firm has remained active in recent months with recent deals including: the purchase of Torchy's Tacos; backing Barteca Holdings-owned Barcelona Wine Bar and the Bartaco dining chains; and investing in Joe & The Juice, a chain of urban juice and coffee bars, in October 2016.

The increased consumption of film, television and other similar content programming has become a driver of media deals. Recent deals within the sector include: Shanghai Media Group Pictures’ acquiring the rights to television drama series ‘Doctor Who’ from BBC Worldwide; Bruin Sports Capital’s buying digital sports media company Deltatre; and AT&T Inc.’s (NYSE: T) purchasing of video content streamer Quickplay Media Inc. from Madison Dearborn Partners.

UBS Investment Bank and SunTrust Robinson Humphrey (NYSE: STI) are acting as financial advisers to Hellman & Friedman, while Simpson Thacher & Bartlett LLP is serving as legal counsel. Evercore Partners is acting a financial adviser to General Atlantic, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel.

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