Stampede Acquired by DCC Technology
According to CEO Kevin Kelly, the acquisition will accelerate Stampede's global business development efforts and will help lift previous financial constraints.
Stampede, one of the leading distributors in the pro A/V market, says it has been acquired by the technology division of Dublin-based DCC Technology, a £14.3 billion revenue, London Stock Exchange listed (LSE) international sales, marketing and support services group that employs 11,000 people in four divisions operating in 17 countries.
Kevin Kelly will continue to serve as president and CEO of Stampede.
“The acquisition of Stampede adds an exciting new brand to our portfolio that complements our Exertis brand in Europe,” says Tim Griffin, DCC Technology, managing director.
“The combination of Stampede’s expertise in value added distribution and our resources is going to unleash a new wave of opportunity for our partners in Pro A/V around the world.
“By establishing a presence in North America, we will be strategically positioned to leverage all of the new opportunities we expect to develop as a result of this acquisition.”
In a press release, Kelly calls the acquisition a game changing paradigm shift that ushers in an exciting new era for a global Pro A/V industry.
“With this acquisition, we no longer have the same financial constraints limiting what we can do as a value added distributor,” Kelly says. “Overnight, Stampede has become one of the world’s largest Pro A/V distributors, able to operate at a level certain to create exciting new business opportunities for our partners,” he says.
“Supported by the resources and long-term commitment of DCC, we are now able to scale across all Pro A/V product categories in all vertical markets globally in a way that we simply could not do on our own. For our manufacturer partners this means greater reach and scale.
“For our resellers, this means more products and new product categories than ever before.”
Kelly adds that the acquisition is the right move for Stamped at the right time.
“Everything we have accomplished as a company over the last 20 years is due to the amazing talent and ingenuity of our employees who created a world class company that has been limited in its growth potential only by its balance sheet,” he says.
“With this acquisition, we no longer have the same financial constraints limiting what we can do as a value added distributor.”
How DCC Technology’s Acquisition Affects Stampede Dealers
According to Kelly, the acquisition does not change the way Stampede conducts business around the world, adding that it will accelerate the company’s global business development efforts.
“Our employees, resellers and vendor partners will see an exciting evolution in how we go to market and the level of investment we can now make to grow our business.”
With the completion of the acquisition, Stampede founder and CEO Mark Wilkins has decided to retire, after nearly 40 years of service to the Pro A/V industry. “I am incredibly proud of everything we have accomplished as Stampeders over these last 20 years,” says Wilkins.
“Now, with the backing and support of DCC Technology, I can retire knowing that the company’s future is in very good hands.”
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Tom has been covering consumer electronics for six years. Before that, he wrote for the sports department of the Boston Herald. Migrating to magazines, he was a staff editor for a golf publication and an outdoor sports publication. Now, as senior writer/technology editor of CE Pro magazine since 2003, he dabbles in all departments and offers expertise in marketing. Have a suggestion or a topic you want to read more about? Email Tom at email@example.com
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