Philadelphia, PA — May 13, 2016 — A little over a month after announcing it is acquiring certain assets and assuming certain liabilities of International Audio Visual Inc. (IAVI), Almo Professional A/V today reported that the transition has been completed. As a result, Almo Corporation is now the largest privately-held professional audio video distributor in the industry and a $1.2B corporation. It is also a global company through the procurement of IAVI’s Latin American business.
“Throughout our 70-year history, Almo has always maintained the value-add distribution model,” said Warren Chaiken, president and CEO of Almo Corporation. “The IAVI acquisition is a cohesive fit because of the similar culture and approach to the market. With our new global presence, we plan to expand into new markets that will continue to fuel Almo’s consistent and strong growth.”
“Almo has a great management team and Citizens Bank is pleased to have such a strong relationship with Almo,” said Daniel K. Fitzpatrick, president of Citizens Bank, Pennsylvania. “We’re happy to offer our capital markets capabilities to help the Almo team complete this important acquisition and achieve their strategic and financial goals.”
“It has been an exciting month, with the announcement of the acquisition during our E4 AV partner event in Washington, D.C, then the presentation of our newly combined staff at E4 Atlanta – we’ve received an extremely positive response about the acquisition from the AV community,” said Sam Taylor, executive vice president and COO of Almo Professional A/V. “As part of the business plan, we have retained over 60 former IAVI employees, all of whom will stay in their respective locations and conduct business under the Almo name. These factors will greatly expand our capabilities and reach while increasing our ability to provide the industry with the best distribution service, products and integration support available.”
Wade Gilbert, founder of IAVI said, “The acquisition is working out tremendously well. Almo has taken the best practices from both organizations to make the new combined company even stronger.”
All Almo Pro A/V customers can expect to experience these benefits to help achieve business success:
Access to Almo’s content creation, installation and bandwidth managed services, which provide a new dimension of growth and ongoing revenue potential. A full-featured eBusiness portal named Almo ACCESS®, which includes online tracking, ordering, price sheets, return requests, customized spec sheets, images and a host of other valuable information. Highly competitive pricing and shipping rates along with buying power that ensures healthy inventory and advanced logistics thanks to the size, scope and power of the division’s parent company, Almo Corporation. Inventory in seven warehouses across the country for nationwide projects. Access to new product lines for both the professional and consumer markets. Award-winning education programs, such as the E4 AV Tour to help resellers stay ahead of the trends and be more competitive. # # #
About Almo Professional A/V Almo Professional A/V provides the industry’s most advanced product distribution, training and education, and technical support options available for the Pro AV community. With a highly skilled sales team, reseller education programs, seven distribution centers across the U.S. and product lines for the Pro A/V channel, Almo Professional A/V provides customers with the full distribution experience on a local and a personal level. Almo Professional A/V is a division of Almo Corp., the nation’s leading independent distributor of consumer electronics and major appliances. For more information about Almo Professional A/V, please call 888-420-2566 or go to www.almoproav.com. Almo Professional A/V can also be followed on Twitter at http://twitter.com/almoproav and on Facebook at www.facebook.com/almoproav.
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