Midwich announces record sales
PUBLISHED: 18:13 12 January 2011
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ONE of the largest employers in south Norfolk has reported record sales of more than £200m for last year while announcing it has made its seventh acquisition within five years.
Audio visual distributor Midwich, which employs about 190 people at its base in Vinces Road, Diss, has ventured for the first time into the security systems market by taking on Ubiqz – a formerly London-based company which sells CCTV cameras and associated products.
New managing director Stephen Fenby, who took over the role from Nick Culley in October, says it opens up new opportunities for the ambitious award-winning company which has successfully weathered the tumultuous economic storm to the extent it is embarking on another recruitment drive to bolster the Ubiqz team. Its acquisition, for an undisclosed sum, follows similar takeovers of AV distributors SIDEV in France last year and Square One in Ireland in 2009.
Mr Fenby said the business intends to focus on further expansion into mainland Europe in the future.
“We’re always interested in looking at new business – they make our business more exciting.
“It’s hard work integrating a new business but it gives the teams new opportunities, new cultures and a bit of travel, for example we’ve sent about 15 people to SIDEV over the last year to help set up systems and train sales people,” he said.
“I’m very excited about Ubiqz. It’s the most interesting acquisition we have made – it’s got big potential because the market is big and Ubiqz is quite small so we can grow the business over the next few years.”
Midwich formed in 1979 and last year completed a £2m relocation to 24,000 sqft state-of-the-art offices in Vinces Road from buildings in nearby Gilray Road.
Mr Fenby added: “The secret of success is keeping a consistent strategy. Dealing with our customers in a supportive and consistent manner, working closely with suppliers in difficult times and being able to adapt and be flexible with how the market is changing.”
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