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Clearance
12-09-2017

Acquisition of Gebroeders van Domburg B.V

Initial release date: 7 September 2017

Midwich, a specialist audio visual and document solutions distributor to the trade market with operations in the UK and Ireland, France, Germany, Iberia and Australasia, is pleased to announce it has acquired a majority stake in Gebroeders van Domburg B.V. (“Van Domburg” or the “Company”), a specialist distributor of audio visual and lighting solutions in the Netherlands.

Van Domburg Partners is a market leading audio visual distributor in the Netherlands. It has particular strength in the large format display market, with a developing interactive and technical product offering. The Company distributes key audio visual brands such as Samsung, NEC and AMX. Through its transport division, Van Domburg also has in-house warehousing and transportation capabilities based out of Rotterdam; a major logistics centre.

Stephen Fenby, Managing Director, Midwich Group commented:

“The acquisition of Van Domburg marks Midwich’s entry into the Benelux markets, enabling the Group to trade with a broad customer base across a variety of customer segments. The addition of this territory to the Group’s portfolio increases Midwich’s geographical coverage, with the Group operating in territories which account for approximately 70% of the European audio visual market. I look forward to welcoming the van Domburg team into the Midwich Group, and working with them to further develop this exciting market."

The acquisition signals Midwich’s entry into the Benelux, a market the Group has identified as important in its international expansion. The acquisition is further delivery of the Group’s strength to grow its operations through a combination of organic developments and selected acquisitions. Midwich will acquire a majority stake from the two joint Managing Directors, with the option to acquire the remaining shares over the next three years. The Company’s Managing Directors will continue to be responsible for the management of the business, and will remain in their current positions.

Rick ter Wee and Ed van Domburg (Managing Directors), Van Domburg commented:

“From the outset of our conversations with the Midwich Group, the synergies between our two businesses were evident. With our strong local position, and with the backing and support of Midwich, it is clear this exciting partnership will enable Van Domburg to continue our growth in the audio visual, and high-end lighting markets. Midwich’s audio visual specialism, and international market leading position made them the ideal partner for us. We look forward to working closely with them to develop our business in the Benelux.”

Headquartered near Rotterdam with a team of 54, the business is a market leader in the Dutch large format displays market. In recent years the Company has developed its technical video product portfolio, offering solutions in digital signage, control and connectivity amongst others. As well as leading the Dutch market in large format displays, subsidiary “Dutch Light Pro” distributes high-end lighting products primarily to electrical contractors and installers. A key part of the Company’s proposition is to provide lighting design consultancy services.

Thomas Sumner, European Director, Midwich Group commented:

“As with any Midwich acquisition our focus will continue to be on enhancing the service and support we provide our customers and vendor partners. We are delighted a market leader in specialist audio visual distribution has again decided to join the Midwich Group. We look forward to working with them and investing in this important market.”

Notes to Editors:

Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Germany, Iberia and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. 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 approximately 10,000 customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality. Although the Group does not sell directly to end users, it believes that the majority of its products are used by commercial and educational establishments rather than consumers.

Initially a UK only distributor, the Group now has over 600 employees, and in the year to 31 December 2016, 33 per cent of the Group's revenues were derived from outside the UK and Ireland. 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