Midwich, one of Diss’s largest employers, has continued its run of purchases after acquiring Sound Technology.
Based in Letchworth Garden City with a number of exclusive brands, Sound Technology achieved annual unaudited revenue in excess of £20 million in the year to September 30.
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 customersStephen Fenby, managing director, Midwich Group
It follows the acquisitions of Earpro, based in Spain, and Gebroeders van Domburg B V, of the Netherlands, earlier this year.
A specialist distributor, Sound Technology focuses on audio, musical instruments and lighting.
Stephen Fenby, managing director of the Midwich Group, said the acquisition would substantially enhance the group’s ability to provide world-leading products.
Sound Technology will continue to operate as an independent company, as a wholly owned subsidiary of Midwich. Current owner, Robert Wilson MBE, will remain as its chairman.
Mr Fenby said: “We have watched the success of Sound Technology over recent years and are delighted to have persuaded Bob, Dave and the team to join our Group.
“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.
“I look forward to welcoming the Sound Technology team into the Midwich Group, and working with them to further develop this market place.”
David Marshall, managing director of Sound Technology, added: “At a time when our company is going through tremendous growth in our original MI and pro audio markets, and of course through our new professional lighting division, we are delighted to be joining the Midwich Group.
“Having the financial resource for sustained expansion, together with access to a wealth of shared expertise, provides a structure for Sound Technology to continue to develop markets for our represented brands, and to enhance the service and support provided to our customers.”
The Diss Express reported in September that the Vinces-Road based Midwich posted a double digit revenue growth