ProAV distributor Stampede announced today that it has been acquired by the technology division of DCC, a U.K.-based marketing and support services firm that employee 11,000 employees across four divisions that operate in 17 countries. The completion of the acquisition will see Stampede founder and CEO Mark Wilkins retire after nearly 40 years of service to the ProAV industry. He will be succeeded by Kevin Kelly.
“I am incredibly proud of everything we have accomplished as Stampeders over these last 20 years,” Wilkins said in a statement. “Now, with the backing and support of DCC, I can retire knowing that the company’s future is in very good hands.”
In the statement, Kelly called the acquisition a “game changing paradigm shift” for the ProAV industry. “Overnight, Stampede has become one of the world’s largest ProAV distributors, able to operate at a level certain to create exciting new business opportunities for our partners,” he said. “Supported by the resources and long-term commitment of DCC, we are now able to scale across all ProAV product categories in all vertical markets globally in a way that we simply could not do on our own. For our manufacturer partners this means greater reach and scale. For our resellers, this means more products and new product categories than ever before.”
Kelly went on to call the acquisition the right move at the right time for Stampede. Most notably, he said, the move gives Stampede access to a level of financial capital that removes some of the constraints that had limited the company could do as a “value added distributor.”
“Everything we have accomplished as a company over the last 20 years is due to the amazing talent and ingenuity of our employees who created a world class company that has been limited in its growth potential only by its balance sheet,” he said.
For DCC Technology, the acquisition of Stampede gives them an immediate presence in the U.S. It adds to their portfolio a company that compliments their Europe-based Exertis brand, a technology distributor that is partnered with 750 global tech brands and more than 45,000 retailers and resellers.
“The combination of Stampede’s expertise in value added distribution and our resources is going to unleash a new wave of opportunity for our partners in ProAV around the world,” DCC Technology Managing Director Tim Griffin said in the statement. “By establishing a presence in North America, we will be strategically positioned to leverage all of the new opportunities we expect to develop as a result of this acquisition.”