StockMarketWire.com - Midwich has entered into a binding agreement to acquire a majority stake in Earpro S.A., a value-added distributor of audio, video and lighting solutions in Spain and Portugal.
The acquisition valued the equity of Earpro at about €11.0m, including a net cash balance of approximately €3.2m. The deal marked Midwich's entry into the Spanish and Portuguese markets, territories the group has identified as important in its international expansion.
"The acquisition is further delivery of the Group's strategy, stated at IPO to grow operations through a combination of organic development and selective acquisitions," said Midwich.
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.