Midwich, a specialist audio visual (“AV”) distributor to the trade market with operations across the UK and Ireland, Continental Europe, North America and Asia-Pacific, is pleased to announce it has entered into a binding agreement to acquire a majority stake in NMK Electronics Enterprise, NMK Middle East FZE and Edge Electronics Trading LLC (“Edge”) (collectively “the NMK Group” or “NMK”).
Currently based in Dubai, NMK was originally founded in Sharjah in 1987 by Nicolaos Kyvernitis. Through its operations in Sharjah and Dubai, the business supplies specialist AV products to customers in the UAE and the wider Gulf region, along with Edge Electronics, based in Doha, supporting customers in Qatar. The NMK Group will continue to be led by the existing management team who will retain a stake in the business, comprising of Alex Kemanes (Managing Director) and Constantinos “Dino” Drimakis (Director – Business Development) who were both mentored and trained by the founder. After serving 33 years in the regional audio industry, Nicolaos Kyvernitis will go on to retire from the business following a period of transition, post-completion.
NMK is a specialist audio and visual distributor with a strong heritage in the professional audio market where the business operates with high-end specialist brands, such as Shure and Bose. More recently, NMK has expanded its technology offering, including the addition of key video brand Epson to its portfolio. Through this increasingly diversified portfolio, the business generated revenues of over AED 100 million in 2019.
NMK serves customers across a spectrum of vertical applications, core of which are the retail, live-events/venues, rental sector and fixed install projects. As well as holding a substantial local stock, NMK also provides a host of ancillary services, such as project design, system assembly, servicing and repairs.