Legrand to Acquire Milestone, Including Chief, Sanus, Da-Lite
Legrand has signed an agreement to acquire Milestone AV for an enterprise value of $950 million. Legrand brands like Middle Atlantic will join forces with Milestone brands like Chief, Sanus and Da-Lite.
Wire management and electrical installation company Legrand announced today it has signed an agreement to acquire Milestone AV, a U.S.-based digital infrastructure company, for an enterprise value of $950 million. Milestone AV is the parent company of brands like Chief, Sanus and Da-Lite.
Legrand says the purchase is a “synergistic move” which will nearly double the company’s existing base of over 3,500 dealer relationships tied to its Middle Atlantic Products brand. Likewise, Milestone officials noted in a press release that Legrand’s relationships with electrical, IT and data communication distributors could allow Milestone to move into these distribution channels in the mid-term.
The company notes that Milestone has built strong ties with distribution channels offering “wide geographical coverage” and access to corporate, hospitality, houses of worship, education, government and retail markets.
Additionally, the press release states that over 75 percent of Milestone sales are generated by products that rank No. 1 or No. 2 in their markets.
Chairman and CEO of Legrand Gilles Schnepp says the acquisition allows the company to pursue its ongoing reinforcement in digital infrastructure, more specifically in the high-value AV infrastructure and power segment in the United States.
“Milestone will bring Legrand leading positions in commercial and residential AV mounts, as well as in projector screens enabling the Group to provide AV customers with scalable, end to-end offerings,” Schnepp says.
"Combined with Legrand’s No. 1 positions in AV enclosures in the US under the Middle Atlantic Products brand, Milestone will enable the Group to provide US customers with scalable, end-to-end offerings on a market driven by both social megatrends (communication, security, distance and collaborative working etc.) and technological megatrends (digitalization, new display technologies, streaming technologies etc.)," cites the announcement.
Based in Eden Prairie, Minnesota, Milestone recorded 2016 revenues of $464 million, 90 percent in North America. Over the same period, adjusted operating profit and free cash flow stood at respectively 21 percent and 12.5 percent of sales.
The company employs around 1,000 and has locations in the United States, Canada, China, Hong-Kong, Australia and the Netherlands. Its subsidiaries include Chief, Da-Lite, Sanus, Vaddio and Projecta.
We're Looking for Your BEST Projects
Don’t miss your chance to enter to win a 2019 BEST Projects Award. We’ll be announcing winners at a special Gala event at CEDIA EXPO. We can’t wait to see what you’ve been up to this year! Enter your projects now.
Adam Forziati is the web editor for CE Pro's sister publication Commercial Integrator. Have a suggestion or a topic you want to read more about? Email Adam at firstname.lastname@example.org
Follow Adam on social media:
Networking & CablesProduct Briefs: New WiSA Members; Dish Fiber; Marantz, WAVE and AVAD Partner; SpeakerCraft Six-Pack
Araknis Wireless Access Points Feature Wave 2 Technology
Texas Bills Require Electrical License to Pull PoE [UPDATED]
EnGenius Smart Tri-Band Mesh Router Reaches Outdoor Spaces
HDBaseT Spec 3.0 Being Finalized; Supports 4K/60/4:4:4 up to 328 Feet
View more on Networking & Cables