The company moved to Fairborn because the new location provides for growth, and is located in the tech corridor near Wright-Patterson Air Force Base, CEO Paul Spain said.
“There’s a lot of technical companies around that area, so it’s a much better fit for us in the electronics industry,” he said.
Formerly a subsidiary of Projects Unlimited, a Vandalia-based aerospace electronics firm, PUI Audio spun off in 2018 and is now owned by Champlain Capital Partners, a San Francisco-based private equity fund.
2020 was a banner year for the company, and PUI saw another 18% swell in 2021, bringing its growth to nearly 40% in two years. PUI recently rolled out new products in haptics technology, which gives the user a tactile response, such as when a phone vibrates or a game controller rumbles. PUI has plans to take the technology into devices for the medical, industrial, and security industries.
“We believe there’s a big opportunity for haptics in the markets we’re already serving,” Spain said. “For example, in medical, we believe there’s a huge opportunity for additional feedback to patients, to surgeons, and so on. There’s lots of different applications in which haptics can be used.”
PUI is also looking to expand further beyond the North American market, which currently accounts for just over 70% of sales, and is investing in its digital marketing.
Last year, JobsOhio awarded the company a $25,000 grant to help relocate its operations to Fairborn, and will add 10 new jobs, expanding its engineering, sales and warehouse teams. The 21,000-square-foot building has an even mix of office and warehouse space, which is necessary for its equal roles in design and distribution.
“We’re an innovative company developing an innovative product, and so we try to keep that Dayton history of innovation in the building,” Spain said. “Adding 10 people is a big deal for us, because we’re not a huge company to start with. We have the revenue and financials of a mid-sized company, but a small group of people, so it feels like a startup. It’s a great culture to have.”
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