RNS Number : 0701Q Midwich Group PLC 14 February 2019
14 February 2019
Midwich Group plc ("Midwich" or "the Group")
Completion of acquisition of majority stake in Prase Engineering S.p.A
Midwich, a specialist audio visual ("AV") distributor to the trade market with opera"ons across the UK and Ireland, Con"nental Europe and Asia-Pacific, is pleased to announce that it has completed its acquisi"on of 80% of the share capital of Prase Engineering S.p.A, as previously announced on 1 February 2019.
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For further information:
Midwich Group plc
Tel: +44 (0) 13 7964 9200
Stephen Fenby, Managing Director Stephen Lamb, Finance Director
Investec Bank plc (NOMAD and Joint Broker to Midwich) James Rudd
Tel: +44 (0) 20 7597 5970
Carlton Nelson
Berenberg (Joint Broker to Midwich) Ben Wright
Tel: +44 (0) 20 3207 7800
Mark Whitmore Laure Fine
FTI Consulting Alex Beagley Tom Hufton Fern Duncan
Tel: +44 (0) 20 3727 1000
About Midwich Group
Midwich is a specialist AV distributor to the trade market, with opera"ons in the UK and Ireland, Con"nental Europe and Asia-Pacific. The Group's long-standing rela"onships with over 400 vendors, including blue-chip organisa"ons, support a comprehensive product por@olio across major audio visual categories such as large format displays, projectors, digital signage and professional audio. The Group operates as the sole or largest in-country distributor for a number of its vendors in their respective product sets.
The Directors aBribute this posi"on to the Group's technical exper"se, 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 16,000 customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, educa"on, 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.
Ini"ally a UK only distributor, the Group now has nearly 900 employees across the UK and Ireland, Con"nental Europe and Asia-Pacific. A core component of the Group's growth strategy is further expansion of its interna"onal opera"ons and footprint into strategically targeted jurisdictions.
For further information, please visitwww.midwichgroupplc.com
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Midwich Group plc published this content on 14 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 February 2019 16:31:01 UTC