Legrand to Purchase Milestone AV, Adds Chief, Sanus, and Da-Lite to Portfolio
Wasting no time on celebrations, Legrand has announced today its plans to obtain Milestone AV just days after snatching up power distribution specialist Server Technology for an undisclosed amount. Comprised of Chief, Da-Lite, Projecta, Sanus, and Vaddio brand names, the deal to acquire Minnesota-based Milestone AV is based on the enterprise value of $950 million.
Legrand said the takeover of Milestone, whose 2016 sales topped at $464 million, is developing infrastructure to install projection screens in various types of buildings - shopping centers, airports, offices, etc. - and effectively doubles the company’s existing base of over 3,500 dealer relationships tied to its Middle Atlantic Products brand.The French-based industrial group also notes that Milestone also "make us a more significant AV infrastructure supplier to our customers and channel partners.”
"The combination of Milestone’s display mounting, projection screen, and content capture technologies with Legrand’s strong offering in enclosures, power, furniture, connectivity and cable management, will greatly enhance Legrand’s position in the industry - in both the commercial and consumer segments," said John Selldorff, President and CEO of Legrand, North and Central America.
After Milestone merges under the Legrand brand, they look to leverage the massive IT and data infrastructure already set in place. They also note the great position that a Middle Atlantic and Milestone merge can offer, especially with more than 75% of sales of Milestone made with products number 1 or number 2 in their markets.
"Legrand and Milestone are recognized for solving customer challenges with innovative products and delivering exceptional customer experiences,” said Scott Gill, CEO of Milestone. “Bringing together Milestone and Middle Atlantic under Legrand will allow us to offer an expanded range of highly complementary AV brands to our customers while leveraging combined best practices to deliver continued innovation."
Despite making 90% of its sales in the United States, Milestone also serves Canada, Hong Kong, China, Australia, and the Netherlands. Legrand hopes the deal is bringing a lot of "synergy" to the brand and gives French-based Legrand more breathing room to expand in the U.S. market.
"We have a wide range of expertise at Legrand to align acquisitions. Outside the United States, we will help them accelerate their development, especially in Europe, " says Gilles Schnepp, CEO of Legrand.