Midwich Group PLC Completion of prodyTel acquisition (6684X)
December 21 2023 - 9:20AM
UK Regulatory
TIDMMIDW
RNS Number : 6684X
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 +44 (0) 1379 649200
Investec Bank plc (NOMAD and Joint Broker
to Midwich)
Carlton Nelson / Ben Griffiths / Cameron +44 (0) 20 7597
MacRitchie 5970
Berenberg (Joint Broker to Midwich) +44 (0) 20 3207
Ben Wright / Richard Andrews 7800
FTI Consulting
Alex Beagley / Tom Hufton / Rafaella de +44 (0) 20 3727
Freitas 1000
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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END
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December 21, 2023 09:20 ET (14:20 GMT)
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