Stout advised DS18 (“DS18” or the “Company”) on its recapitalization by Enceladus Partners (“Enceladus”) and Merit Capital Partners (“Merit”). Stout served as the exclusive financial advisor to DS18 in connection with the transaction, which closed in February 2026.

Based in Miami, Florida, DS18 is a leading branded supplier of premium, professional-grade audio equipment and electronics for cars, trucks, boats, motorcycles, utility task vehicles, and golf carts, serving customers in ~90 countries. DS18’s diverse portfolio of ~2,300 stock keeping units consists of speakers, receivers, amplifiers, components, and other transportation electronics. The Company distributes its products through an omnichannel strategy, including direct-to-consumer, as well as through distributors, dealers, and international export channels.

Enceladus Partners is an operationally focused private investment firm that invests in lower middle-market companies across the industrial and business services sectors. The firm’s approach is informed by deep operating experience, partnering closely with management teams to drive value creation through operational improvement, organic growth, and strategic acquisitions.

Merit Capital Partners is a Chicago-based investment firm that provides equity and debt capital to lower middle-market companies in the manufacturing, distribution, and services sectors.