Midwich has entered into a binding agreement to acquire a majority stake in Earpro, a value-added distributor of audio, video and lighting solutions in Spain and Portugal that distributes audio vendors including Shure and a range of brands under the Harman umbrella.
The acquisition values the equity of Earpro at approximately $11.75 million, including a net cash balance of approximately $3.4 million. Managing Director, Miguel Mezquita retains a stake in the business and will continue to lead the business as part of the Midwich Group.
