Midwich grew at twice the pace of the broader audio-visual market and crossed the £1 billion revenue mark in 2022.
The AV distributor saw its top line power up 41 per cent to £1.2 billion in the 12 months to 31 December 2022 as the AV market “largely returned to normal” following two years of disruption.
Midwich’s 2022 numbers were bolstered by its acquisitions of UK distributors DVS and Nimans in January and February of the period.
However growth stood at 20.7 per cent double the 10.5 per cent growth Midwich claims the wider AV market recorded last year.
Although it was a UK outfit, Midwich now serves 22,000 AV integrators and IT resellers worldwide.
Midwich non-executive chairman Andrew Herbert said the pro-AV market is forecast to grow by an average of 5.9 per cent a year for the next five years, a figure he predicted the 1,500-employee outfit will continue to top.
“Despite the scale of the group’s revenue in 2022, it represented less that one per cent of the global Pro AV market which provides significant opportunity for future growth,” he said.
