Midwich acquires majority stake in AV distributor
Audio-visual (AV) distributor, Midwich, has announced its acquisition of 80% of the share capital of Phrase Engineering, an Italian value-added distributor of AV products.
Thursday, 07 Feb 2019 12:16 GMT
Stephen Fenby, managing director of the Midwich Group
Phrase has experience in the audio market and has recently added Epson and LG to its portfolio. The company’s founders, Alberto and Ennio Prase, will continue to lead the business and will remain on the board of directors of the company.
The AV firm operates its own training academy, offering customers bespoke AV training run by an in-house team which operates out of the company’s Venice and Milan offices.
The acquisition marks Midwich’s entry into the Italian market, having ended 2017 with revenue in excess of €20m.
The company has a very strong reputation, not only in Italy, but also in the European AV market as a whole”
“We are delighted to welcome Ennio, Alberto and the rest of the Phrase team to the Midwich Group,” says Stephen Fenby, Midwich Group’s managing director. “The company has a very strong reputation, not only in Italy, but also in the European AV market as a whole.
“As the market leading professional audio distributor in Italy, Phrase has an excellent portfolio of vendor partners and a broad customer base which it services with an extensive range of value add support.
“This acquisition adds to the Group’s already formidable capability in the European professional and installation audio sectors. We believe that with the acquisition of Phrase, Midwich now has a presence in countries representing 80% of the European AV market.”
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