Telephony products business Nimans has entered into a binding agreement to be acquired by Midwich Group, a trade AV products distributor. An initial £16.5 million will be paid on completion with two further payments of £5.5m each after the first and second years. Completion is subject to FCA approval. Nimans which generated total revenues of £114.3m to the end of December 2020 employs some 200 staff and trades with a significant number of retail customers.
Midwich managing director Stephen Fenby said: “Nimans is a long-established business with a great reputation for technical excellence, customer service and logistics. Its traditional telecoms market has experienced significant change in recent years, bringing with it new revenue opportunities which the company has developed strongly, in areas such as unified communications, video conferencing, security and networking.”
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