Midwich has entered into a binding agreement to snap up fellow distributor Nimans, adding more audio-visual depth to its portfolio as well as gaining unified comms and telecoms expertise.
The deal is worth £27.5m, paid in cash, and is expected to be earnings enhancing to this fiscal year, once it gets the green light and is approved by the Financial Conduct Authority, which should happen during the first half.
For its money, Midwich has picked up a distributor with market heritage that dates back to 1981 and has a strong background in telephony but recognised that convergence was coming and in recent years has beefed up its unified comms, VoIP, security and networking position. Its vendor roster includes BT, Jabra and Yealink.
The firm had to deal with the death of its founder, Julian Niman, back in 2018, after a 32-year stint at the helm of the business, with the firm vowing to carry on his legacy and continue to drive the business forward.