Completion of Acquisition of Earpro S.A.

RNS Number : 2017B

Midwich Group PLC

31 March 2017

 

31 March 2017

Midwich Group plc

("Midwich" or "the Group")

Completion of Acquisition of Earpro S.A.

Further to the Group's announcement on 29 March 2017, Midwich is pleased to announce it has completed the acquisition of a majority stake in Earpro S.A., a value-added distributor of audio, video and lighting solutions in Spain and Portugal.

Enquiries:

FTI Consulting Oliver Winters / Alex Beagley / George Robinson	Tel: [phone]

Notes to Editors:

Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Germany and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. The Group operates as the sole or largest in-country distributor for a number of its vendors in their respective product sets. The Directors attribute this position to the Group's technical expertise, extensive product knowledge and strong customer service offering built up over a number of years. The Group has a large and diverse base of approximately 10,000 customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality. Although the Group does not sell directly to end users, it believes that the majority of its products are used by commercial and educational establishments rather than consumers.

Initially a UK only distributor, the Group now has over 500 employees across the UK, Germany, France, Spain, Ireland, Australia and New Zealand, and in the year to 31 December 2016, 33 per cent of the Group's revenues were derived from outside the UK and Ireland. A core component of the Group's growth strategy is further expansion of its international operations and footprint into strategically targeted jurisdictions.

For further information, please visit www.midwichgroupplc.com

 

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