Published on December 1st, 2017 | by The GC Team0
Midwich completes Sound Technology acquisition
Technology distributor Midwich has announced the acquisition of Sound Technology Limited, distributor of audio, musical instruments and lighting solutions in the UK.
Sound Technology will continue to operate as an independent company, as a wholly owned subsidiary of Midwich Limited.
The Letchworth Garden City-based company, which achieved annual unaudited revenue in excess of £20 million in the year to 30 September 2017, has a number of key exclusive brands including several under the Harman audio and lighting umbrella and high-profile musical instrument brands such as Nord.
The deal follows Midwich’s acquisition of specialist Iberia-based audio and lighting distributor Earpro earlier in the year and supports the Group’s strategy of growing its specialist value-added offering.
Stephen Fenby, Managing Director of Midwich Group (pictured), said: “The acquisition of Sound Technology substantially enhances the Group’s ability to provide world-leading products and high value add audio solutions to our trade customers.
“In addition, I believe that the high level of support Sound Technology provides to its vendors is very close to our proven strategy as a specialist distributor. The Company’s recent entry into the professional lighting market is an exciting proposition and complements our current offering in the Benelux and Iberia regions.”
Midwich has acquired 100% of the share capital of the company from its founder and current owner Robert Wilson MBE, who will remain in the business as its Chairman. The current senior management team – David Marshall (Managing Director), Judith Kingston (Finance Director), Ian Cullen (Marketing Director) and Greg Niven (Sales Director) – will use their experience to continue to build the business.