News

Midwich Group Acquires Home Technology Distributor Invision UK (19/10/2007)

It was announced today that agreement has been reached for the parent company of Midwich to acquire a substantial majority of the share capital of Invision UK Limited ("Invision" or "the Company").

Based in Bury St. Edmunds, Suffolk, Invision is a leading UK distributor of home technology products for custom installers serving the consumer electronics and home automation markets.

Invision's trade customers are on the front lines of the digital convergence trend, selling and installing everything from entertainment systems to lighting, security, communication and computer networks. The Company's impressive product portfolio includes IP-Based audio, video and control systems, architectural loudspeakers, media servers, HD video distribution, advanced universal remotes and structured wiring products for the residential market.

"This is great news for our staff, customers and manufacturer partners," said Steve Beahan, MD and founder of Invision.

"I am delighted to be working alongside Midwich and look forward to the opportunities this will bring. Invision will retain its own strong identity - offering cutting-edge technology products, dealer education and technical support to our network of professional installers. However, we'll have access to the resources of a larger group - financial, management and administrative - and not forgetting the bonus for all our dealers and installers, a larger portfolio of leading brands. This will in turn enable us to rapidly accelerate our expansion plans."

He added: "Early discussions have indicated that the combined group will be of great interest to new vendors offering complementary products and we are confident of announcing some exciting new partnerships soon."

Commenting on the Invision deal, Nick Culley, Managing Director of Midwich, said "Midwich is committed to investment in market areas where we can offer a real advantage. As one of the largest AV distributors in Europe, we have seen a substantial increase in demand for our consumer products from residential installers over the past year."

Cully continued: "The market for digital home solutions is strong and growing and our tie up with Invision UK brings us access to a very special product range and a real depth of technical expertise".

Stephen Fenby, the finance director of Midwich, who led the transaction, commented on Midwich's similar deal with technical AV distributor True Colours Distribution last year. "Our deal with True Colours has been very successful with all of the anticipated benefits to customers, vendors and staff being realised. This, combined with the significant growth we have seen in our own AV business, gave us the confidence to approach one of the top distributors in the consumer market."

www.invisionuk.com