Midwich Group PLC Completion of prodyTel acquisition (6684X)

TIDMMIDW

RNS Number : 6684X

Midwich Group PLC

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQUAASROKUUUAA

(END) Dow Jones Newswires

December 21, 2023 09:20 ET (14:20 GMT)

Grafico Azioni Midwich (LSE:MIDW)
Storico
Da Gen 2025 a Feb 2025