Midwich has written a cheque for distributor Nimans along with other subsidiaries from Nycomm Holdings Limited for £27.5 million.
For those not in the know, Manchester-based, Nimans distributes telephony hardware as well as solutions such as unified communications, VOIP, security and networking, and partners with a wide range of vendors including BT, Microsoft, NETGEAR and Yealink.
Apparently, the deal does not include Avoira, a £21.5 million revenue comms partner which was formed through the fusion of four resellers in 2019. However, Niman’s makes most of Nycomm Group’s cash. The distributor generated consolidated revenues of £114.3m and pre-tax profits of £5.8 million for the year ending 31 December 2020 while currently trading with over 2,500 telephony, IT and retail customers and employing over 200 staff.
Midwich Group managing director Stephen Fenby said that Midwich was growing its UC offering and Nimans brings further opportunities to the group, in terms of skills in new product and technology areas, service offerings to the trade, a large new customer base and new vendor relationships.
“Its traditional telecoms market has experienced a 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. I believe that the combined skillsets and capabilities of Midwich and Nimans bring a unique offering into the market with the ability to provide complex solutions involving multiple technologies. I look forward to welcoming the whole Nimans team into the Midwich Group.”
The deal will be funded from Midwich’s existing facilities and is expected to be earnings enhancing in the year to 31 December 2022, the audio-visual distributor claims.
