The completion of the transaction is anticipated for mid-June and is subject to the satisfaction of certain requirements, including regulatory approval. Prior to closing, Legrand and Middle Atlantic will continue to operate as separate, independent companies.
The acquisition will help Legrand to fulfill one of its key objectives to establish a leadership position in the fast growing markets for AV infrastructure products, systems, and solutions, according to the company. Middle Atlantic has a sales relationship with more than 3,500 integrators in the U.S. and Canada.
“The success of our customers is our primary focus," said Bob Schluter, founder of Middle Atlantic. "They rely on us to constantly develop innovative products and deliver exceptional service. Legrand shares these ideals and together we share a vision to expand and grow this market. I’m excited about the possibilities and the benefits for our customers and employees alike.”
Once this transaction is completed, Middle Atlantic will offer an expanded product lineup, access to enhanced specification services and tools, and more complete AV infrastructure solutions. The combined offerings of the firms would include more than 5,000 AV products and services.
After closing, Middle Atlantic would operate as an independent business within Legrand. Mike Baker, president of Middle Atlantic Products, would lead a new, fifth division - commercial AV - for Legrand in North America.
“The complementary strengths of these businesses, and the fit of the product offerings will be unmatched by any other supplier in this industry,” said John Selldorff, president and chief executive officer, Legrand, North America. “The combined leadership team is looking forward to making a real difference to the installation community, and the entire AV market, now and for the future."