3 becomes 1: Milestone AV and Da-Lite Screen Company to join forces.
Milestone AV Technologies, whose brands include mount makers Chief and Sanus are to merge with projector maker Da-Lite, it announced this week.
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Da-Lite brands include Projecta and Procolor will continue to be led by President Richard Lundin.
Although it has been labelled a "merger", Da-Lite will operate as a subsidiary of new parent Milestone.
Milestone are hoping the move will bring synergies and create an"industry leader in mounting solutions, AV furniture, and projection screens across commercial and consumer markets," it said in a statement this week.
The new entity will have 1,000 employees and eight major operating locations worldwide.
"We are pleased to announce the combination of these two great companies," said Scott Gill, CEO of Milestone AV Technologies.
"Through the strength of this combination, we will be able to offer a more comprehensive product line to our joint customers, open up new sales channels for our brands."
Minnesota based Milestone was formed from the successful merger of Chief and Sanus Systems in 2004.
|Indiana based Da-Lite has been in the AV market for over 100 years. |
A definitive merger agreement has been signed, and the transaction is expected to close within the next 30 days. No financial details of the transaction has yet been disclosed.