Austin’s Precision Camera & Video sold to seasoned investor Philip Livingston

Precision Camera & Video, the premier camera store in Austin, Texas, was sold by founders Jerry and Rosemary Sullivan after more than 40 years. The new owner, Philip Livingston, is the former CEO and CFO of name-brand companies like LexisNexis, World Wrestling Entertainment and others. Most recently, he was managing director of 3K Limited Partnership, an investment firm. Terms were not disclosed, but Jerry Sullivan will still be involved in the repair side the business which launched the company four decades ago.

According to an announcement provided by the company, Livingston was the preferred buyer for the business because of his love for photography and commitment to invest in the continued growth of the 20,000-square-foot store.