Midwich of Diss acquires two companies to help cement overseas market position
Major Diss employer Midwich has acquired an additional two subsidiaries this month, as it looks to further expand its operations into overseas markets.
The Vinces Road audio-visual specialist announced it has bought UK-based technology solutions distributor Holdan Ltd for around £7.9 million, acquiring 75 per cent of the firm’s issued share capital and bringing on Chris Daniels, Kieron Seth and Allan Leonhardsen in senior roles.
At the same, the company also confirmed the purchase of Wired Ltd, a small AV distributor with its headquarters in New Zealand.
Midwich stated the acquisitions of Holdan and Wired are part of its continuing growth strategy, helping to augment its market position both nationally and abroad.
Stephen Fenby, Midwich Managing Director, said: “I am delighted to welcome Allan, Chris, Kieron and the rest of the Holdan team to the Midwich Group.
“We have admired the expertise and reputation of Holdan for some time and look forward to working together in the future.
“Having made some headway in penetrating these markets ourselves, we believe that the expertise and focus of Holdan will give Midwich the ability to provide a more comprehensive value-added service to our customers in the UK and overseas.
“Similarly, Midwich’s vast reach into the audio visual market provides Holdan’s vendors with an opportunity to expand further into a growing segment.”
Mr Fenby added: “We are also pleased to welcome Bruce Mackay and the rest of the Wired team to the Midwich Group.
“The acquisition in New Zealand supports two of our key strategic objectives in the region, to provide outstanding value added support to our customers and vendors, and to continue the growth of our display solutions business.”
To find out more about the Midwich Group, please call 01379 649200 or visit their website at www.midwich.com