Deal agreed to sell audio visual business to listed IT equipment distributor

Andy Dyson

SEA Holdings (UK), a holding company of York-based audio visual business Saville Group, has sold off its subsidiary – Audio Visual Material. (AVM)

AVM has been sold to AIM listed Northamber, with accountancy firm Mazars advising SEA on the deal.

Saville Group is an expert in the design and installation of audio visual systems and live events, to offering services under two brands – Visavvi, providing audio visual and IT solutions and Sparq, providing live event technical production services.

The sale of AVM, a specialist distributor of high quality audio visual brands, to Northamber, a trade only distributor of IT equipment, will allow SEA to focus on its remaining subsidiaries, allowing them to actively grow their core businesses.

AVM was first established more than 30 years ago. Its sale to Northamber provides a new home for the business, with distribution as its core strategy.

The Mazars team was led by Leeds-based Partner Rob Burton with support from Jonathan Newton. Gavin Maddison of Irwin Mitchell provided legal advice to SEA.

Burton said: “This deal provides a great new home for AVM and allows SEA Holdings to focus on supporting Saville Group as it expands its core installation and live events operations.

“We look forward to supporting Saville Group directly with their continued growth plans and wish AVM all the best under their new ownership”.

Andy Dyson, joint managing director at Saville Group, said: “AVM has been an important contributor to our business over the years as a close distribution partner.

“We are excited by this new chapter in their evolution, which will see them becoming part of an established distribution network offering new supply opportunities to Saville Group and our new brands Visavvi and Sparq.”

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