UK distributor enters Benelux market with acquisition

Print and audio-visual distributor takes first steps into new market by snapping up €30m firm in the Netherlands

The UK's largest print and audio-visual distributor, Midwich, has added the Netherlands to its expanding European empire by snapping up local hero Gebroeders van Domburg.

Flush from its initial public offering last year, Midwich has bought a majority stake in the Rotterdam-based firm, a specialist in audio-visual and lighting solutions with 54 staff and revenues of about €30m last year.

The move catapults Midwich into the Netherlands for the first time, adding to its existing operations in the UK and Ireland, France, Germany, Iberia and Australasia.

Midwich highlighted large format displays as a particular strength of its latest conquest, and said it had identified the Benelux as important in its international expansion.

In line with previous acquisitions, Midwich has acquired a 70 per cent stake from van Domburg's two joint managing directors for an initial consideration of €2.1m, who will remain in their positions. That amount will rise based on earn-outs running until 31 December 2018, while Midwich also has the option of buying the duo's remaining stake over the next three years.

"The acquisition of van Domburg marks Midwich's entry into the Benelux markets, enabling the group to trade with a broad customer base across a variety of customer segments," said Midwich managing director, Stephen Fenby.

"The addition of this territory to the group's portfolio increases Midwich's geographical coverage, with the group operating in territories which account for approximately 70 per cent of the European audio visual market. I look forward to welcoming the van Domburg team into the Midwich Group and working with them to further develop this exciting market."