Audiologic sold to EAV Group

Corporate Finance advisor BCMS has advised the shareholders of Audiologic – an award-winning UK distributor of professional audio visual (AV) solutions – on the sale of the business to EAV Group, an alliance of distributors of professional AV products and services, headquartered in Germany. The acquisition of Audiologic represents EAV’s first entry into the UK market.

First established in 2004 and based in Harlow, Essex, Audiologic specialises in supplying AV products and solutions for professional installers and system integrators. The business has built an industry-leading reputation as an added-value AV distributor: it not only supplies a range of market-leading brands – some under exclusive arrangements – but contributes to every aspect of an AV project, from design to product selection, commissioning, service, ongoing support and after sales services. Posting consistent growth across its 18-year trading history, Audiologic has recently expanded both its selection of brand partners and its employee headcount.

“We’ve secured an ideal outcome, and a little bit of history for our sector. None of this could have been achieved without the support and expert advice from BCMS, who were in our corner, always” – Matt Boland and Simon Stoll, Audiologic

Audiologic is the latest addition to the EAV Group, a leading value-added distributor of professional AV solutions throughout a growing territory across Europe and, via Pro Systems International, delivery of best-in-class simulation and virtual reality solutions worldwide. The group was founded in 2019, employs over 150 staff and comprises the following businesses: Arocom (Switzerland), Audio Pro (Germany), Audio XL (Belgium & Netherlands), DR. W.A. Günther (Switzerland), Go Wild (Switzerland), Pro Systems (Netherlands) and SDS (Switzerland).

There are clear cultural and commercial synergies between the businesses. Both EAV and Audiologic focus on consultative sales and service-led competencies. EAV Group, like Audiologic, also offers dedicated training academies, marketing expertise and excellent relationship management with manufacturers, integrators, and dealers.

Deal perspectives

Sam Brandon, Group CEO, EAV Group commented: “We’re delighted to welcome Audiologic into our growing family of AV professionals across Europe. As a technically focussed, value-add distributor, the mission of the company perfectly aligns with our core values. Audiologic Managing Director Andy Lewis and the team have worked tirelessly to develop the brands they represent across the UK & Ireland, and we look forward to continuing that growth with their loyal customers and suppliers in the years to come.

Andy Lewis, Managing Director, Audiologic added: “Leading our businesses on the same values and approach to the marketplace means the acquisition of Audiologic by EAV Group is an exciting and natural next step that strengthens our ability to develop and grow. Audiologic is a company that has worked hard to develop a family ethos, and that will remain through the acquisition process and beyond, as we welcome EAV Group to our business, and enter a new and exciting chapter. What [Audiologic shareholders] Matt Boland and Simon Stoll have achieved to date is exceptional. The entire Audiologic family wishes them all the best for the future and are in no doubt that Audiologic is in the safest hands with EAV Group going forward.”

Commenting on BCMS’ role in the transaction, Audiologic’s Matt Boland and Simon Stoll said: “Selling a business is a challenging complex transaction – don’t let anybody tell you different. But with the support of Jim Whitaker and the whole BCMS team we’ve been able to secure an ideal outcome, and a little bit of history for our sector – selling to an ambitious international buyer completing their first transaction in the UK. It was our shared ambition to see the business move on to the next level under new ownership, and we are so delighted at the strong cultural fit between the businesses – both in terms of commercial synergy and shared values.

“None of this could have been achieved without the support, hand-holding and calm, considered expert advice from BCMS, who were in our corner, always. Firm in negotiation on our behalf, BCMS built and maintained excellent relationships with our buyer and their advisors, and were the epitome of professionalism throughout the transaction.”

Jim Whitaker of BCMS added: “One of the great pleasures of this job is helping our clients’ businesses ‘break through’ and move to the next level, and this is exactly what has happened here. EAV Group is absolutely the perfect partner for Audiologic as they look to build on a brilliant brand profile and reputation in the UK and Ireland. It goes without saying that it’s been our pleasure at BCMS to work alongside Matt, Simon, Andy and Audiologic FD Richard Bryan, as well as Sam and the EAV Group M&A team. A transaction like this is all about building relationships, and I’m happy that BCMS has been able to play a key role in securing a great deal for all parties.”

Alongside BCMS, the shareholders of Audiologic were advised by Edward Lee at Blaser Mills Law.

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