Momentum advises on the sale of DVS to Midwich Group Plc

Deal Overview

Lead advisory
Technology
Sold to publicly listed trade purchaser

Momentum Corporate Finance has advised the shareholders of DVS Limited (“DVS”) on their sale to Midwich Limited (“Midwich”).

Momentum Corporate Finance advised the shareholders of Cooper Projects Limited (trading as “DVS”) on their sale to Midwich Group Plc (“Midwich”).

Based in Cardiff, DVS was founded in 2003 as a specialist distributor of CCTV and associated video recording technologies, in which it has developed a strong market reputation working primarily with leading global brand HikVision. In recent years, DVS has begun to diversify its portfolio to include complementary technologies, such as access control, intercom, and intruder detection.

DVS provides solutions for trade customers throughout the UK, across key verticals including the corporate, retail and residential markets amongst many others. An extensive range of value-add services are provided to customers by DVS including project design, ongoing technical support, training and the innovative proprietary installer programme which connects end-users with DVS customers in their geographic and technology area.

Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, EMEA, Asia Pacific and North America. The Group’s long-standing relationships with over 500 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and professional audio. The Group operates as the sole or largest in-country distributor for a number of its vendors in their respective product sets.

Momentum Corporate Finance acted as lead advisor on the transaction, with Lewis Silkin LLP providing legal advice to the shareholders of DVS.

Get in touch

At DVS we have always had ambitious growth plans and combining with Midwich gives us a unique offering to both of our loyal customer bases. The Midwich team quickly grasped the understanding of our available technologies and how they could also be used by their own customers in an ever-converging space. We are super excited to be part of the Midwich group which has a wealth of experience and knowledge that we can utilise to make sure our ambitious plans are met as we look to grow DVS.

We are delighted with the advice received from Momentum. Having acted as the lead advisor on the Management Buyout (MBO) of DVS in 2016, Momentum has continued to provide us with clear and commercial guidance throughout the last five years. The team delivered an excellent result for the shareholders as part of the sale process and I would highly recommend Momentum to any management team seeking corporate finance advice for their own MBO journey.

Tim Goodson, Managing Director of DVS

It has been a pleasure working with the shareholders of DVS. We pride ourselves on giving best long-term advice and are pleased to have contributed to the successful sale of DVS. Midwich are an excellent strategic buyer for DVS and we wish Tim, Gavin and the rest of the team all the best with the next stage of business growth.

Alastair Boorman, Partner at Momentum Corporate Finance

The acquisition of DVS gives Midwich access to a significant segment of the Security market in which we currently have little presence, and which is expected to grow at around 8% per annum for the next five years. The knowledge and support of the experienced DVS team should help realise new opportunities for our customers in an increasingly converging technology market. Similarly, we believe that much of DVS’s extensive customer base uses or could use our core AV products in their projects. We are very excited at the prospect of supporting Tim, Gavin, David and the rest of the DVS team in accelerating the growth of the business.

Stephen Fenby, Midwich Group Managing Director

Thinking about a company acquisition or selling your business? Do not hesitate to get in touch today.

Get in touch