Latin America. DCC Technology, which is marketed as Exertis and is one of the world's leading technology distribution and services companies, has announced the acquisition of Almo Corporation in North America. The acquisition is the largest so far in the history of parent company DCC plc.
The move signals an ambitious strategy for Exertis, which expands its international scale in the Pro AV sector and accelerates its expansion into the North American market. The addition of Almo Corporation builds on other acquisitions in North America, such as Stampede, Jam Industries, The Music People and JB&A, adding depth to its consumer portfolio. It expands Exertis' Pro AV capability to form the largest professional specialized AV company in North America.
Along with its Pro AV business, Almo Corporation is the largest distributor of conventional appliances, offering a complete portfolio of products including kitchen packages complete with essential appliances for small and medium-sized retailers throughout the U.S. In addition, it is the leading distributor of premium appliances, serving retailers and builders who design luxury residential facilities for refrigeration, ventilation and cooking in indoor and outdoor environments. Almo's thriving business in appliances and lifestyle products will add scale to Exertis North America's business in the consumer channel.
Almo is a 75-year-old third-generation family business with 660 employees, nine distribution centers and more than 2.5 million square feet of storage space across North America. Almo Corporation will benefit from leveraging Exertis' supply chain financial resources and logistics, delivering its suppliers and partners a number of enhanced business opportunities, efficiencies and profit potential. The acquisition will provide Exertis North America with greater back-end economies of scale along with front-end specialization that will add multiple benefits for all of its suppliers and partners.
Almo will continue to be operated by the Chaiken family, with Warren Chaiken as president and chief executive officer and Gene Chaiken as president. The combined divisions of Exertis and Almo Pro AV will be led in due course by Sam Taylor, current executive vice president and chief operating officer of Almo Pro AV. Shortly after the completion of the integration, the combined business will be renamed Exertis Almo Pro AV.
John Dunne, a former senior executive at Exertis, who currently leads the Exertis Pro AV team in North America, will join Almo's executive team and help lead the integration. The Premium Appliances and Conventional Appliances divisions will continue to be led by Steve Terry and Jack Halperin, respectively, both industry veterans in those markets.
Exertis' expanded North American operation becomes a $2.4 billion business overseen by Martin Szpiro, Managing Director of Exertis North America. It is part of Exertis International's international expansion strategy, under Managing Director Clive Fitzharris.
Tim Griffin, Managing Director of DCC Technology & Exertis says, "The acquisition of Almo Corporation is the largest in DCC's history and signals our confident and ambitious intention to expand DCC technology. By integrating Almo with our North American business, we will form the largest professional specialized AV business in North America. Almo's 75-year history of growth and success, combined with its long-standing relationships with industry partners and its ability to continuously innovate and expand, will be great assets for Exertis. In turn, we will bring significant economies of scale, access to the global supply chain and other benefits to Almo Corporation's customers."
Warren Chaiken, President and Chief Executive Officer of Almo Corporation added, "Having completed a celebration of a year of 75 years of growth and commercial success, the time is right to provide our manufacturers and channel partners with a truly global distribution stage so they can operate their businesses. the greater the capacity, the greater the purchasing power and the ability to compete for a more complete position in the global supply chain. We are committed to growing with our partners by remaining your value-added distributor with greater scale and access to more products, more services and more financial support. For them, this transition will be seamless as we will operate as usual."
