Midwich acquires Holdan
United Kingdom: AV broadliner Midwich has acquired video specialist Holdan for a maximum consideration of approximately €8.6m. Midwich has acquired 75% of the issued share capital of Holdan from Chris Daniels and Allan Leonhardsen. In line with the Company's long term succession plan, Chris Daniels has stepped down as Holdan's managing director, but will continue with the business on a full time basis before retiring in 2017. Allan Leonhardsen has become Holdan's managing director with immediate effect. Allan joined the business in 2003 and has been the sales director for the past twelve years. Kieron Seth becomes sales and marketing director, adding sales to his previous marketing responsibilities. The Holdan Acquisition has been funded from the existing cash resources of the Group. The structure of consideration is in line with the Group's previous approaches, with 75% of Holdan being acquired at the time of announcement. Midwich has options to acquire the remaining 25%, over the next three years on a pre-determined methodology linked primarily to earnings growth. Consideration for the initial 75% of the Company is split €3.6m on completion and €1.8m after 12 months. In addition, the Group has incurred transaction fees and expenses in connection with the Holdan Acquisition of approximately €0.12m. The Holdan Acquisition is expected to be immediately earnings enhancing for the Group.
Stephen Fenby, Managing Director of Midwich commented: "I am delighted to welcome Allan, Chris, Kieron and the rest of the Holdan team to the Midwich Group. We have admired the expertise and reputation of Holdan for some time and look forward to working together in the future. We recognised some time ago that the broadcast and professional video markets are a natural adjunct to our traditional audio visual activity. Having made some headway in penetrating these markets ourselves, we believe that the expertise and focus of Holdan will give Midwich the ability to provide a more comprehensive value-added service to our customers in the UK and overseas. Similarly, Midwich's vast reach into the audio visual market provides Holdan's vendors with an opportunity to expand further into a growing segment." If no further acquisitions are planned on the short term, Midwich has already plans to expand later in Italy, Netherlands, Poland, Spain and Switzerland.
Holdan appoints its first AV Channel Manager
United Kingdom: AV specialist Holdan has appointed a specialist AV Channel Manager to recognize the increasing interplay between broadcast technology and professional AV equipment. The role will involve supporting AV installers, dealers and resellers to integrate video technology cost-effectively and intelligently into their projects. The position has been filled by Jon Hubery, who joins Holdan from AV manufacturer, TV One. With TV One, Hubery was responsible for account management, new business development, product demonstrations and customer training. This followed earlier positions in business presentations and AV. He will now take on a pan-European role with Holdan, representing such brands as TV One, Optibase, Blackmagic Design, Datavideo and Panasonic Broadcast.
United Kingdom: video VAD Holdan has concluded an agreement with camRade to distribute its complete range of camera bags and protective suits through its European network of resellers. Already representing the company's Alphatron electronic viewfinder and specialist cases for Panasonic camcorders, Holdan will now carry the whole line up-of rain covers, desert suits and snow coats, as well as soft cases for monitor panels, tripods and sound equipment. The agreement includes distribution of the very latest rainproof wetsuits for the Blackmagic Cinema Camera, JVC HM650 and Sony's F5 / F55 systems.
An agreement signed at NAB 2013 appointed British video VAD Holdan as Teradek's European distributor. A distributor of Teradek products since some years, Holdan will now officially represent the vendor and its complete portfolio of encoders, decoders, mobile transmitters and new digital management solutions. The British distributor will also deliver a full service of pre-sales advice, technical support and product marketing.
United Kingdom: AV specialist Holdan has unveiled a new distribution deal with electronic viewfinder (EFV) specialist Alphatron. As part of the agreement, Holdan will distribute the Dutch company’s products through its network of resellers in Ireland and the United Kingdom.
General manager :
Mr Allan Leonhardsen
Creation year : 1996