March 31, 2011 by Rachel Cericola
Two great things are coming together. Milestone AV Technologies has announced plans to merge with Da-Lite Screen Company.
Milestone is the name behind both Chief and Sanus, which manufacture mounts, stands and other A/V furniture. Da-Lite is very well known for its projection screens. The plan is to combine the companies and focus on what they know best: mounting, A/V furniture and projection screens for both the commercial and consumer A/V markets.
“We are pleased to announce the combination of these two great companies,” said Scott Gill, Milestone’s CEO. “Through the strength of this combination, we will be able to offer a more comprehensive product line to our joint customers, open up new sales channels for our brands, and provide growth opportunities for our employees. We look forward to expanding our reputation for innovative products and market-leading customer service.”
According to Twin Cities Business, Milestone is buying Da-Lite for the sum of $202.5 million. That price tag also includes $94.2 million of Da-Lite’s debt.
Milestone will continue to be based in Savage, Minnesota, while Da-Lite will keep its home office in Warsaw, Indiana. Da-Lite, however, will operate as a subsidiary of Milestone, under Richard Lundin, who is Da-Lite’s current president.
The merger agreement has been signed, and the transaction should be completed within the next 30 days.
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Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.
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