AVM Acquires Matrix Display Systems
Establishes AVM as the UK’s Largest Provider of Audio Visual Systems Integration and Services
London, UK, July 2008 - Audio Visual Machines Ltd (“AVM”) – an integrator of audio visual and video conferencing systems – has announced the acquisition of Matrix Display Systems Ltd (“Matrix”) in an all cash deal.
With this acquisition, the combined AVM Group is now the largest audio visual systems integrator (AVSI) in the UK, with a turnover of £45million. The company now has 250 employees and its coverage across the UK has doubled in size, with offices in London & the South-East, Bristol, Leeds, Birmingham and Scotland. AVM has over 700 clients around the world including BP, BT, eBay, Sainsbury’s and Virgin.
With a current turnover of £23million, Matrix is the leading provider of audio visual services to the UK education sector. Matrix also has a significant client base in corporate and public organisations, and is a main supplier of AVSI services to the Ministry of Defence.
Backed by Octopus Private Equity and HSBC, AVM has pursued an aggressive growth strategy, with Matrix being the company’s sixth acquisition in the last three years.
Edward Cook, CEO of AVM, said, “We are delighted to bring Matrix and its staff into the AVM Group. Matrix provides us with a wealth of experience and a sizeable customer base. By combining this with AVM’s already impressive client portfolio, we have created the UK’s largest provider of AV and video conferencing services. This enables us not only to improve and broaden the services we offer our customers, but to take a leadership position in one of the UK’s most exciting and dynamic industries.”
“In companies around the world, the boardroom is being transformed into a multimedia communications hub that reflects the way in which business is conducted now. In less than ten years, we have gone from flipcharts and overhead projectors to large-scale, fully interactive plasma screens with professional acoustic design. The advent of high speed broadband connectivity has also made video conferencing a realistic option whereas before it was cost-prohibitive and cumbersome. As a key green technology, we expect to see rapid growth in this market over the next few years.”
Sandy MacPherson, Chairman of AVM, said, “This latest deal firmly establishes us as the dominant player in the UK’s fast growing AVSI market. As both private and public sector organisations demand more sophisticated AV and video conferencing solutions, we are seeing increasing consolidation within the UK industry – this development is fully in line with our strategy to continue to expand via acquisition. With our extensive international partnership programme, we are also in a great position to grow our global customer base.”
About AVM
AVM (www.avmachines.com) was established in 1990 and is the leading audio visual and video conferencing systems integrator in the UK. The company designs, supplies, programs and supports complex audio visual solutions ranging from boardroom presentation suites to IP-based video conferencing networks