Midwich, a global specialized distributor of audio-visual products in the retail market, is strengthening its UC offering, which is growing by acquiring telecommunications distributor Nimans Limited and its subsidiaries at Nycomm Holdings Limited. Completion, subject to FCA approval, is expected in the first half of 2022.
Nimans is a UK specialist distributor of unified communications, telecommunications, collaboration and audio-visual technologies. Founded in 1981 and employing more than 200 people, it trades with more than 2,500 telephony, IT and retail customers, and in the year ended 31 December 2020, recorded consolidated revenue of £ 114.3 million and pre-tax profit of £ 5.8 million.
A total of £ 27.5 million will be paid in cash, with £ 16.5 million payable upon completion of the acquisition, followed by two fixed payments of £ 5.5 million each every 12 and 24 months.
Stephen Fenby, managing director of the Midwich Group, said: “Nimans’ traditional telecommunications market is changing, bringing with it new revenue opportunities that the company has strongly deployed in areas such as unified communications, video conferencing, security and networking. I believe that the combined skill sets of Midwich and Nimans bring a unique offering to the market in terms of providing sophisticated solutions involving multiple technologies. ”
Specializing in widescreen displays, projectors, digital signage, professional audio and UC, Midwich has relationships with more than 600 vendors and a customer base of 20,000 mostly professional AV integrators and IT resellers.
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Midwich acquires Nimans – TECHNOLOGY
Source link Midwich acquires Nimans – TECHNOLOGY