Completion of prodyTel acquisition

Midwich Group PLC

21 December 2023

 

21 December 2023

Midwich Group plc

("Midwich", the "Midwich Group" or "the Group")

Completion of prodyTel Distribution Gmbh acquisition

Midwich Group (AIM: MIDW), a global specialist audio visual distributor, is pleased to announce that it has completed the acquisition of prodyTel Distribution Gmbh ("prodyTel"), a distributor of professional audio and technical solutions products based near Nuremberg, Germany. This follows merger control clearance from the German Federal Cartel Office.

Midwich will announce its 2023 Full Year Trading Update on 17 January 2024.

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	[phone]
Investec Bank plc (NOMAD and Joint Broker to Midwich) Carlton Nelson / Ben Griffiths / Cameron MacRitchie	[phone]
Berenberg (Joint Broker to Midwich) Ben Wright / Richard Andrews	[phone]
FTI Consulting Alex Beagley / Tom Hufton / Rafaella de Freitas	[phone]

About Midwich Group

Midwich Group is a specialist AV distributor, with operations in the UK and Ireland, EMEA, Asia Pacific and North America. The Group's long-standing relationships with over 600 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as displays, projectors, technical AV, broadcast, professional audio, lighting and unified communications. 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 over 22,000 trade customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality.

Initially a UK only distributor, the Group now has over 1,800 employees across the UK and Ireland, EMEA, North America and Asia Pacific. 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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