Legrand Signs Agreement to Acquire Milestone AV Technologies
West Hartford, CT, June 28, 2017 – 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."
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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 $5.6billion 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.
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
Director, Corporate Communications
Legrand, North and Central America
(860) 523-3679, email@example.com