Legrand to buy Milestone for USD950 million
Legrand is set to own Vaddio, Projecta, Da-Lite, Sanus and Chief brands after announcing a deal to acquire Milestone AV Technology.
Legrand North and Central America announced today it had signed a definitive agreement to acquire AV manufacturer and designer of mounts, projection screens, PTZ cameras, equipment racks and AV furniture.
According to Reuters the transaction is worth $950 million (approximately €835 million) based on enterprise value.
Legrand acquired Middle Atlantic in 2011 and intends to bring the AV rack and furniture business together with Milestone brands in an AV division of Legrand. It plans to leave all Milestone and Middle Atlantic product lines in place.
In a written statements John Selldorff, president and CEO of Legrand, North and Central America, and Scott Gill, CEO of Milestone both said the companies’ brands would be complimentary and the deal would allow Legrand to deliver more to customers.
Selldorff, said: “The combination of Milestone’s display mounting, projection screen and content capture technologies with Legrand’s strong offering in enclosures, power, furniture, connectivity and cable management, will greatly enhance Legrand’s position in the industry - in both the commercial and consumer segments - and make us a more significant AV infrastructure supplier to our customers and channel partners."
Gill added: “Bringing together Milestone and Middle Atlantic under Legrand will allow us to offer an expanded range of highly complementary AV brands to our customers while leveraging combined best practices to deliver continued innovation."
Milestone has grown through acquisition, most recently with the purchase of Vaddio in April last year.