StockMarketWire.com - Specialist audio visual distributor Midwich said it had acquired a controlling stake in Cooper Projects, the parent company of UK distributor of video security products DVS, for up to £15 million.

Midwich said had acquired 65% of the company's share capital for an initial £8.6 million, followed by an additional fixed and performance linked amount of up to a maximum of £6.4 million 12 months later.

The remaining 35% of Cooper Projects' share capital would be held by managing director Tim Goodson, commercial director Gavin Dunleavy and chief technology officer David Davies.

Based in Cardiff, DVS was founded in 2003 as a specialist distributor of CCTV and associated video recording technologies.


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