D&M Holdings has completed the acquisition of audio and live-to-air console manufacturer Calrec Audio. The acquisition will be accretive to earnings per share in 2008, writes Fergal Ringrose. "The acquisition of Calrec is an important step in our stated growth strategy to expand into new markets, specifically commercial audio/visual," said Chairman and Chief Executive Officer, Eric C. Evans.
"With Calrec, we're adding another premium brand to the D&M family - one that places us firmly in the broadcast market and serves the most prominent customers throughout the world such as the BBC, ITV, NBC, CBS, Fox, MBS and Asahi."
Iin addition to the company's core broadcast market, D&M Holdings has also targeted expansion in other commercial AV markets such as recording, live music performance venues, film production and public spaces. Commercial AV businesses, including automotive, will account for approximately 25 % of D&M's worldwide revenue in 2007.
"As it has with our other premium brands, the D&M business platform will allow Calrec to continue to perform at the highest levels while staying true to the uniqueness that has led to its past success. By becoming part of D&M, Calrec is better positioned to further develop their technology and expand its global reach," said Evans. "We're taking action today with the acquisition of Calrec and will continue to seek additional opportunities in support of our growth strategy."