Midwich, an audiovisual distributor to the trade market with operations across the U.K. and Ireland, Continental Europe, North America and Asia-Pacific, has entered into a binding agreement to acquire a majority stake in NMK Electronics Enterprise, NMK Middle East FZE and Edge Electronics Trading LLC (“Edge”) (collectively “the NMK Group” or “NMK”). Based in the UAE and Qatar, the NMK Group is a value-added distributor of AV products and represents Midwich’s entry into the Middle Eastern market.
Currently based in Dubai, NMK was originally founded in Sharjah in 1987 by Nicolaos Kyvernitis. Through its operations in Sharjah and Dubai, the business supplies specialist AV products to customers in the UAE and the wider Gulf region, along with Edge Electronics, based in Doha, supporting customers in Qatar. The NMK Group will continue to be led by the existing management team who will retain a stake in the business, comprising of Alex Kemanes (Managing Director) and Constantinos “Dino” Drimakis (Director — Business Development) who were both mentored and trained by the founder. After serving 33 years in the regional audio industry, Nicolaos Kyvernitis will go on to retire from the business following a period of transition, post-completion.
NMK is a specialist audio and visual distributor with a heritage in the professional audio market where the business operates with specialist brands, such as Shure and Bose. More recently, NMK has expanded its technology offering, including the addition of video brand Epson to its portfolio. The business generated revenues of over AED 100 million in 2019.
NMK serves customers across a spectrum of vertical applications, core of which are the retail, live events/venues, rental sector and fixed install projects. As well as holding a substantial local stock, NMK also provides a host of ancillary services, such as project design, system assembly, servicing and repairs.
The NMK Academy also hosts regular vendor training events in the classroom, online as well as on a one-to-one basis to cater for specific customer needs. These sessions are run by NMK’s in-house technical team alongside manufacturers, who also provide similar training events in locations throughout the rest of the UAE and internationally.
The Middle Eastern market is one of the fastest growing AV markets in the world. The deal further expands Midwich’s geographical footprint, enabling the Group to extend the support it can provide to customers and vendors internationally. The investment also further delivers on the Midwich Group’s strategy to grow earnings both organically and through the selective acquisition of strong, complementary businesses. The deal follows the acquisition of U.S. distributor Starin Marketing Inc. earlier in the year.