Midwich has acquired Sound Technology Limited, a value add distributor of audio and lighting solutions in the UK. Sound Technology will continue to operate as an independent company, as a wholly owned subsidiary of Midwich Limited.
Sound Technology, based in Hertfordshire, is a specialist distributor focused on three technology categories – audio, musical instruments and lighting, and has achieved annual unaudited revenue in excess of £20 million in the year to 30th September 2017.
The deal follows Midwich’s acquisition of specialist Iberia based audio and lighting distributor Earpro earlier in the year and supports the Midwich’s strategy of growing its specialist value add offering.
Stephen Fenby, Managing Director, Midwich Group (pictured) said, “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.”
The acquisition provides Midwich with access to a number of high profile audio brands, and enhances the its ability to provide complete audio visual solutions to its customers. The acquisition augments Midwich’s existing position in the audio market and it will continue to distribute commercial audio products through its existing vendors.
Midwich has acquired 100 per cent of the share capital of the Company from its founder and current owner Robert Wilson MBE, who will remain in the business as its Chairman. The current senior management team of David Marshall (Managing Director), Judith Kingston (Finance Director), Ian Cullen (Marketing Director) and Greg Niven (Sales Director) will use their substantial experience to continue to build the business.
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.”