Bristol-based Momentum Corporate Finance has completed work on its latest transaction, after advising shareholders of Cooper Projects – the parent company of DVS – on its sale to Midwich Group.
Based in Cardiff, DVS was founded in 2003 as a specialist distributor of CCTV and associated video recording technologies.
In recent years it has begun to diversify its portfolio to include complementary technologies, such as access control, intercom and intrusion detection, providing these services to business customers across the UK.
Midwich, based in Norfolk, is a specialist AV distributor to the professional market, with operations in the UK and Ireland, EMEA, Asia Pacific and North America.
Momentum Corporate Finance acted as lead advisor on the transaction, with Lewis Silkin LLP providing legal advice to DVS shareholders.
Alastair Boorman, Partner at Momentum Corporate Finance, said: “It has been a pleasure working with the shareholders of DVS. We pride ourselves on giving the best long-term advice and are happy to have contributed to the successful sale of DVS.
“Midwich is an excellent strategic buyer for DVS and we wish Tim, Gavin and the rest of the team every success in the next stage of growth for the business.”
Tim Goodson, Managing Director of DVS, added: “At DVS we have always had ambitious growth plans and the combination with Midwich gives us a unique offering to our two loyal customers.
“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 delighted with the advice received from Momentum. Having acted as lead advisor during the management buy-out (MBO) of DVS in 2016, Momentum has continued to provide us with clear and commercial advice throughout the last five years. .
“The team has delivered an excellent shareholder outcome through the sale process and I would highly recommend Momentum to any management team looking for corporate finance advice for their own MBO journey.”
Stephen Fenby, Managing Director of Midwich Group, believes that the acquisition of DVS gives Midwich “access to an important segment of the security market, in which we currently have a small presence, and which is expected to grow by around 8% per year over the next few years. five years”.
“The knowledge and support of DVS’ experienced team should help unlock new opportunities for our customers in an increasingly convergent technology market,” he added. “We are very excited to support Tim, Gavin, David and the rest of the DVS team in accelerating the growth of the business.”
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