As revealed by CRN, C2000 out-bid its rivals to purchase the assets and trading name of Maverick Presentation Products.
Following initial interest from 25 parties, administrator Tenon Recovery had six serious contenders vying for the assets of Maverick.
Gareth Roberts, director of Tenon Recovery, said: “Three firms made competitive bids, but in the end the administrators went with C2000 as it was marginally the best offer and could move the sale quickly.”
Former Maverick managing director, Jon Sidwick, now head of the new arm of C2000, said: “The division will be known as Maverick Presentation Products and will sit under the C2000 umbrella in much the same way as C2000’s Azlan and Datech business divisions.”
“We are taking the strong bits of Maverick and adding it to C2000’s AV division. We have a team of 15, which I plan to increase to 20.”
Resellers will be able to source AV products from both C2000 and the new Maverick division.
Nick Culley, managing director of rival distributor Midwich, who also put in a bid for the assets, told CRN: “Several years ago Maverick was a very credible organisation, but I would question how much value can be associated with the brand now following recent events. I would also question how many vendors have remained on board with Maverick.”
However, Colin Messenger, senior consultant at analyst firm Decision Tree Consulting, said: “In one fell swoop C2000 has bolstered its AV business, which it has been trying to do for several years.”
R ivals line up to pick over Maverick assets