Midwich buys UK pro-audio distributor Sound Technology
Sound Technology, a UK pro audio and professional lighting distributor has been acquired by Midwich Group. Sound Technology will continue to operate as an independent company, as a wholly owned subsidiary of Midwich.
Founded in 1979, Sound Technology is a specialist distributor focused on three technology categories – audio, musical instruments and lighting, and achieved annual unaudited revenue in excess of £20 million in the year to 30 September 2017.
The board of Sound Technology will remain with David Marshall as MD, Judi Kingston as finance director, Greg Niven as sales director and Ian Cullen as marketing director.
Sound Technology will continue to operate from its Letchworth Garden City offices, with no changes to its workforce or market approach.
Speaking to InAVate on the morning the deal was announced Ian Cullen said the deal 'felt like the right time' for Sound Technology and its owner Robert Wilson and that Midwich is 'capable of taking the organisation to new levels'. Another attractive part of the deal for Sound Technology said Cullen was there would be no relocation or job losses for Sound Technology staff. The acquisition will have no impact on ant of the deals Sound Technology has in place, such as the Harman distribution agreement.
Robert Wilson will continue as chairman, "After close to 40 years, Sound Technology has grown into a company operating on a large-scale in multiple market sectors. We continue to see exciting growth opportunities within all these markets, and the time is right for the company to enter its next phase in order to facilitate further expansion and success."
Stephen Fenby, Midwich’s MD said, "We have watched the success of Sound Technology over recent years and are delighted to have persuaded Bob, David and the team to join our Group. The acquisition of Sound Technology substantially enhances the Group’s ability to provide world leading products and high value add audio solutions to our trade customers. In addition, I believe that the high level of support Sound Technology provides to its vendors is very close to our proven strategy as a specialist distributor. The Company’s recent entry into the professional lighting market is an exciting proposition and complements our current offering in in the Benelux and Iberia. I look forward to welcoming the Sound Technology team into the Midwich Group, and working with them to further develop this market place."
David Marshall, MD Sound Technology commented: "At a time when our company is going through tremendous growth in our original MI and pro audio markets, and of course through our new professional lighting division, we are delighted to be joining the Midwich Group. Having the financial resource for sustained expansion, together with access to a wealth of shared expertise, provides a structure for Sound Technology to continue to develop markets for our represented brands, and to enhance the service and support provided to our customers."