Midwich acquires Italian AV distributor Prase
AV distributor Midwich has forged into the Italian market with the acquisition of a majority share of Prase Engineering.
Prase is based near Venice [HQ pictured below] and was founded in 1993 by Alberto and Ennio Prase who will both remain on the Board of Directors of the company.
Originally an audio specialist distributor, Prase has broadened its portfolio in recent years with brands including Epson and LG. It works across a wide range of verticals including corporate, retail, education and rental.
Speaking to Inavate this morning Ennio Prase said he was delighted with the move and said the investment boost would help to expand the company. He confirmed that the Prase name would continue.
In a press release, Stephen Fenby, the Midwich Group managing director, said: “We are delighted to welcome Ennio, Alberto and the rest of the Prase team to the Midwich Group. 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, Prase 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 Prase, Midwich now has a presence in countries representing over 80% of the European AV market.”
Tom Sumner, European Director of Midwich, said: “Prase’s expertise and reputation in the European market for outstanding levels of value add service make the business the ideal partner for the Midwich Group. It was clear from our first meeting with Ennio and Alberto that there was an excellent cultural fit between both organisations, with Prase sharing Midwich’s views on what makes a good value add distribution partner in the channel. We are delighted Ennio and Alberto have chosen to join Midwich. The Prase management team has already built a fantastic business, and we feel with the support of the Group we can help with its next stage of development.”
Both Prase and Midwich are shortlisted in the InAVation Awards Distributor of the Year category. The winner will be announced on February 5, 2019 at the InAVation Awards ceremony and dinner in Amsterdam. Both companies have taken home the award in the past with Midwich winning in 2017 and Prase in 2014.