Published on February 7th, 2020 | by The GC Team0
Midwich enters US market with Starin acquisition
AV distributor Midwich has announced the acquisition of US-based Starin Marketing Inc. for £35.7 million.
The move represents a significant strategic investment by the Diss-based distributor to enter North America, the world’s largest AV market, and will also provide extended geographical support for Midwich’s global customers.
The acquisition also provides a foundation for the Group’s plans for US expansion with the benefit of a well-established market position, experienced management team and large customer base.
It also strengthens the Group’s presence in the growing unified communications segment of the AV market and allows Midwich to support the rollout of Starin’s service proposition and key vendor relationships across the Group’s global network.
Stephen Fenby, Managing Director of Midwich Group plc, said: “The acquisition of Starin Marketing Inc. is a significant day in Midwich Group’s history, marking our entry into North America, the largest AV market in the world.
“Starin’s exposure to, and relationships in, the growing unified communications segment will be greatly beneficial to Midwich as it seeks to increase revenues in this fast-growing AV sub sector across its global network. The highly experienced management team has built a great business and I look forward to welcoming them and the wider team into the Midwich Group.”
For the year ended 31 December 2019, Starin delivered unaudited revenue of $222.7m, gross profit of $29.6m and EBITDA of $6.1m.