05.24.2011 09:20 AM
Legrand to Acquire Middle Atlantic Products
Legrand, North America, a West Hartford, Conn.-based provider of products and systems for electrical installations and information networks is acquiring Middle Atlantic Products, Inc., a company based in New Jersey specializing in AV products and solutions for commercial, residential, security and broadcast applications. The completion of the transaction is anticipated for mid-June. Prior to closing, Legrand and Middle Atlantic will continue to operate as separate, independent companies.

Legrand noted the increasing use of audio and video in venues such as airports, schools, retail, hospitals and corporate facilities as among the reasons for its purchase of Middle-Atlantic, which has expert knowledge of these markets and a sales relationship with more than 3,500 integrators in the U.S. and Canada, providing a direct path for sustained product and market development.

According to Bob Schluter, founder of Middle Atlantic, "The success of our customers is our primary focus. They rely on us to constantly develop innovative products and deliver exceptional service. Legrand shares these ideals and together we share a vision to expand and grow this market. I'm excited about the possibilities and the benefits for our customers and employees alike."

The combined offerings of the firms would include more than 5,000 AV products and services.

After closing, Middle Atlantic will operate as an independent business within Legrand; Mike Baker, President of Middle Atlantic Products, will lead a new, 5th Division, Commercial AV, for Legrand in North America.

"The complementary strengths of these businesses, and the fit of the product offerings will be unmatched by any other supplier in this industry," said John Selldorff, President and Chief Executive Officer, Legrand, North America. "The combined leadership team is looking forward to making a real difference to the installation community, and the entire AV market, now and for the future."


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1.
Posted by: Tom Butts
Thu, 32-26-2011 03:32 PM Report Comment
What type of multiples are we talking here?




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