Legrand (parent company for Middle Atlantic, Luxul, ON-Q and Vantage) today announced that it has signed a definitive agreement to acquire Milestone AV Technologies, the parent company of AV brands including Da-Lite, Vaddio, Sanus, Projecta and Chief, which makes projector mounts, projection screens, PTZ cameras, equipment racks and AV furniture for both the HomeAV and ProAV 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.
What does rAVe founder Gary Kayye think of this — and how much was Milestone AV purchased for? Go here and find out.
Here is the letter that Middle Atlantic President Mike Baker sent to its partners.
“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.”