Midwich Group snaps up professional audio and technical solutions products distributor prodyTel Distribution.
The outfit will acquire 51 per cent of prodyTel’s share capital for £7.4 million with plans to buy the rest in June 2024 for £7.1 million. An additional performance-linked £4.8 million will be payable in cash in 2026.
Midwich Group MD Stephen Fenby said: “We are delighted to have reached an agreement to acquire prodyTel, which will strengthen our technology offering in the DACH region.
Based in Stein, Germany prodyTel was founded in 2003, originally as a manufacturer of audio codecs before switching its focus to distribution in 2014.
