French Legrand acquires US Milestone AV Technologies LLC

Legrand has signed an agreement to purchase US company Milestone AV Technologies LLC, a frontrunner in Audio Video (AV) infrastructure and power, a high-value segment of the digital infrastructure market.
Gilles Schnepp, Chairman and CEO of Legrand, commented: “The acquisition of Milestone allows Legrand to pursue its ongoing reinforcement in digital infrastructure, more specifically in the high-value AV infrastructure and power segment in the United States where Legrand is already #1 in AV enclosures with its Middle Atlantic Products brand. Milestone will bring Legrand leading positions in commercial and residential AV mounts, as well as in projector screens enabling the Group to provide AV customers with scalable, end-to-end offerings.
Milestone’s robust leading positions, well-known brands, businesses supported by strong social and technological megatrends, customer-centric approach, ongoing innovation, and active CSR9 policy are key assets which make this acquisition a highly valuable move that ‘ticks all the boxes’ of Legrand fundamentals.”
Legrand’s acquisition of Milestone should generate mid-term sales synergies. Milestone’s strong relationship with 6,000 professional AV dealers should build up Legrand’s existing basis of about 3,500 dealer relationships tied to its Middle Atlantic Products brand. Likewise, Legrand’s strong relationship with electrical, IT and data communication distributors could allow Milestone to move in these distribution channels. With locations in North America, Europe and Asia, Milestone could offer Legrand opportunities to expand its AV infrastructure and power business into new geographical areas.
Resulting operations should also benefit from short to mid-term cost synergies stemming from (i) direct and indirect sourcing with scope for combining purchasing platforms, (ii) streamlining of production facilities particularly in Asia, and (iii) opportunities to optimize administrative areas.