Midwich to acquire an 80% stake in NMK Group for £14m.

Midwich, a specialist audio visual distributor, agreed to acquire an 80% stake in NMK Group, a group of three distributors of AV products, Nicolas M. Kyvernitis Electronics, NMK Middle East and Edge Electronics, for £14m ($19m). Completion, which is subject to local regulatory approvals as required by foreign investment laws in the region, is expected in early 2021. "This is an exciting day for the Midwich Group as it not only marks the Group's entry into one of the fastest growing AV markets in the world, but also means we now have a presence in all major global territories. This gives us a truly global footprint, and ensures we are able to support our customers across all key geographies," Stephen Fenby, Midwich Group Managing Director.