Legrand Signs Agreement to Acquire Milestone AV Technologies
June 28 2017 - 5:30AM
Business Wire
Legrand, North and Central America today announced that it has
signed a definitive agreement to acquire Milestone AV Technologies,
a leading designer and manufacturer of branded AV products
including flat panel mounting solutions, projector mounts,
projection screens, PTZ cameras, equipment racks and AV furniture
for both the consumer and commercial AV markets. The completion of
the transaction is subject to customary closing conditions,
including termination or expiration of the applicable waiting
period under the U.S. Hart-Scott-Rodino Antitrust Improvements
Act.
“Legrand is committed to serving the professionally installed AV
industry which is an attractive growth area driven by the
advancement and expansion of video applications,” said John
Selldorff, President and CEO of Legrand, North and Central America.
“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.”
Once the transaction closes, the plan is for Milestone and
Legrand’s Middle Atlantic business to come together under the AV
Division of Legrand. Both the Milestone and Middle Atlantic product
lines will continue to remain in the market place, establishing an
offering that can be expanded to serve AV customers globally.
“Legrand and Milestone are recognized for solving customer
challenges with innovative products and delivering exceptional
customer experiences,” said Scott Gill, CEO of Milestone. “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.”
Visit legrand.us for more information.
###
About Legrand, North and Central America
Legrand is a global specialist in electrical and digital
building infrastructures. Its comprehensive offering of solutions
for use in commercial, industrial and residential markets makes it
a benchmark for customers worldwide. Innovation for a steady flow
of new products with high added value is a prime vector for growth,
including, in particular, connected devices stemming from Legrand’s
global Eliot (Electricity and IoT) program. Legrand reported sales
of $5.6 billion in 2016. Legrand has a strong presence in North and
Central America, with a portfolio of well-known product lines that
include AFCO Systems, C2G, Cablofil, Electrorack, Finelite, Luxul,
Middle Atlantic, Nuvo, OCL, On-Q, Ortronics, Pass & Seymour,
Pinnacle, QMotion, Quiktron, Raritan, Solarfective, Vantage,
Wattstopper, and Wiremold. Legrand is listed on Euronext Paris and
is a component stock of indexes including the CAC40, FTSE4Good,
MSCI World, ASPI, Corporate Oekom Rating and DJSI (ISIN code
FR0010307819) www.legrand.us.
About Milestone
Milestone AV Technologies is a leading designer and manufacturer
of branded audiovisual products including flat panel mounting
solutions, projector mounts, projection screens, PTZ cameras,
equipment racks and AV furniture for both the consumer and
commercial AV markets. Milestone’s innovative products, sold
principally under the Chief, Da-Lite, Vaddio, Sanus, and Projecta
brand names, are sold through numerous channels, including Pro AV
dealers, regional home theater dealers, consumer electronics
retailers, mass merchants and original equipment manufacturers. The
company has offices in the U.S., Canada, Europe and Asia Pacific
supporting a global network of dealers. Distribution centers are
located in Minnesota (U.S.), California (U.S.), Indiana (U.S.),
Ohio (U.S.), Hong Kong and the Netherlands. Milestone currently
serves a broad base of more than 6,000 global customers with
headquarters in Eden Prairie, Minn. www.milestone.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170628005158/en/
Media:Legrand, North and Central AmericaRikki Crea,
860-523-3679Director, Corporate
Communicationsfrederica.crea@legrand.us
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