Sydney-headquartered audio-visual solutions distributor Ambertech Limited has reached an agreement to acquire Sydney-based Convoy International’s distribution business.
The deal is expected to be valued in the order of $2.8 million to $3 million, according to an announcement to the ASX by Ambertech. The transaction is expected to be finalised on or about 31 January 2023.
Ambertech expects the acquisition to result in initial incremental revenue growth of $4 million to $5 million annually.
Ambertech’s caters to the pro audio, defence and law enforcement, broadcast, commercial and home markets. In 2019, Ambertech bought the audio-visual division of Hills for an estimated $5.5 million.
Its acquisition of Convoy will add a long-running consumer electronics business to its portfolio. Convoy touts its business as “one of the founding fathers of the Australian consumer electronics segment”. Its history goes back more than 55 years, starting as an importer, distributor and marketer of speakers, amplifiers, media players, headphones, advanced home audio components and audio-video digital accessories.
Ambertech managing director Peter Amos said: “We are very pleased to be adding prestigious Convoy brands to our portfolio such as NAD, Bluesound, and JBL Home.”
“These brands allow Ambertech to expand our solutions for residential installers and specialist HiFi dealers and consolidates our position as the supplier of choice to these markets.”
Ambertech reported revenue of $77 million for the year ended 30 June 2022, down from $80.1 million the year before. Its earnings before interest, taxes, depreciation and amortisation in FY22 was $7.5 million.
In FY22, Ambertech bought Connected Media Australia, a distributor of RTI control and media distribution products for the residential and commercial markets and the Bluesound Professional distribution ecosystem for commercial spaces.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
