REG - Midwich Group PLC - Completion of prodyTel acquisition

MidwichAnnouncement

21/12/2023 14:30

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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                                      +44 (0) 1379 649200

Stephen Fenby, Managing Director

Stephen Lamb, Finance Director
 Investec Bank plc (NOMAD and Joint Broker to Midwich)  +44 (0) 20 7597 5970

 Carlton Nelson / Ben Griffiths / Cameron MacRitchie
 Berenberg (Joint Broker to Midwich)                    +44 (0) 20 3207 7800

Ben Wright / Richard Andrews
 FTI Consulting                                         +44 (0) 20 3727 1000

Alex Beagley / Tom Hufton / Rafaella de Freitas

 

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
(http://www.midwichgroupplc.com/)

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