Almo Professional A/V announced today it is expected to acquire “certain assets” and assume “certain liabilities” of International Audio Visual Inc. (IAVI), a global distributor that includes a Latin American division.
The move, which is expected to close next month, makes 70-year-old Almo the largest privately held professional AV distributor in the industry and a $1.2B corporation. The acquisition announcement was made public during Almo’s E4 AV Tour stop in Washington D.C.
“We are proud to be a third generation, family-owned American company with a vision to expand job opportunities and fuel the economy,” said Warren Chaiken, president and CEO for Almo Corporation, in the press release announcing the acquisiton. “Taking care of our employees, partners and manufacturers has always been first. The acquisition will give thousands of resellers and integrators access to top quality distribution while making Almo Pro A/V a highly competitive global distributor.”
Sam Taylor, executive vice president and COO for Almo Professional A/V, said in the announcement, he’s excited to add IAVI to the Almo family.
“For nearly 20 years, IAVI has brought a value-add approach to the market with its high level of customer service, talented employees and established success in Latin America,” said Taylor. “This is in alignment with what Almo Pro A/V has been building and why IAVI was a perfect fit to become a part of our company. Combined with our managed services, engineering and design support, and leading education and training programs, Almo brings a new depth of opportunity to the pro AV community that is currently not available.”
Wade Gilbert, Founder and President of IAVI, explained the deal in the joint announcement.
“In looking for ways to expand the business, I saw that becoming a part of a larger entity like Almo Corporation would provide a multitude of benefits for our customers, our partners and our employees,” he said. “Taking best practices from both companies will allow us to build an even stronger value proposition for our customers.”
