Exertis makes 'biggest acquisition yet' with Almo Corporation deal
Exertis claims the buy indicates an ambitious strategy to grow its international scale in the Pro AV sector and expand in North America
Exertis has announced its acquisition of Almo Corporation in North America in a deal it claims is "the biggest yet" in the history of parent company DCC plc.
The distributor added the buy points to an ambitious strategy for Exertis, extending its international scale in the Pro AV sector and ramping up its expansion in the North American market.
"The acquisition of Almo Corporation is the largest in DCC's history and signals our confident and ambitious intent to expand DCC Technology," said DCC Technology & Exertis MD, Tim Griffin.
"By integrating Almo with our North American Business, we will form the largest specialist Pro AV business in North America.
"Almo's 75-year history of growth and success, combined with its longstanding relationships with industry partners and its ability to continually innovate and expand will be great assets to Exertis."
The addition of Almo Corporation builds on other acquisitions in North America such as Stampede, Jam Industries, The Music People and JB&A, adding depth to its consumer portfolio.
Almo brings with it a 660-strong headcount, nine distribution centres and more than 2.5 million square feet of warehousing space across North America.
Almo Corporation will benefit from leveraging Exertis' financial resources and supply-chain logistics, delivering to its vendors and partners a host of improved business opportunities, efficiencies and potential for profit.
While the acquisition will provide Exertis North America with increased back-end economies of scale allied to the front-end specialisation that will add multiple benefits for all its vendors and partners.
Executive moves
Almo will continue to be operated by the Chaiken Family, with Warren Chaiken as president and CEO and Gene Chaiken as Chairman.
The combined Exertis and Almo Pro AV divisions will be led by Sam Taylor, current executive VP & COO of Almo Pro AV.
Shortly after the completion of the integration, the combined business will be rebranded as Exertis Almo Pro AV.
John Dunne, a long-time senior executive with Exertis, currently leading the Exertis Pro AV team in North America, will join the Almo executive team and help lead the integration.
Exertis claims its expanded North American operation becomes a $2.4bn business overseen by Martin Szpiro, MD of Exertis North America. It forms part of the international expansion strategy of Exertis International, under Managing Director Clive Fitzharris.