Midwich 'reaches a deal' to acquire assets and operations from imaging distie Intro 2020

AV distributor’s Holdan business acquires Berkshire business with immediate effect

Midwich pro-video division has acquired the operations and specific assets of imaging distributor Intro 2020.

Holdan, which is the pro-video and broadcasting arm of Midwich, has "reached a deal" to acquire the business operations and "certain assets" from Intro 2020.

Founded in Maidenhead in Berkshire in 1971, Intro 2020 bills itself as a specialist distributor of imaging products, working with brands including Kenko, Cokin, Steiner and Plustek among others.

Intro 2020's financial accounts for the 12 months ending 30 April 2019 show a 4.6 per cent decrease in revenues to £12.6m and operating profits of £214,463.

The acquisition has taken place with immediate effect, Holdan claims, with the distributor set to begin migrating Intro 2020's systems and data over the coming weeks.

Holdan MD Allan Leonhardsen said the business will benefit from Intro 2020's established client base.

"They perfectly complement our broadcast & professional video offerings. Strategic acquisitions such as this allow Holdan to take full advantage of emerging segment crossover opportunities to maximise revenue going forward," he said.

Intro 2020 boss Keith Ruffell added that the deal with Holdan secures the distributor's future.

"I am delighted that we have been able to reach a deal for Intro 2020 to become part of Holdan. This not only secures the future of our business, but also opens up a bright future of growth with the backing of a large, successful multi-national company. Our brands and products have great synergy with those that Holdan already offer and we look forward to providing a bigger and even better service to our valuable customers," Ruffell said.