Southeastern AV Integrators MergeMulti Media Services of Atlanta and Video Systems of the Carolinas of Charlotte, N.C., have merged to form Unified AV Systems (UAVS). 6/08/2011 6:51 AM Eastern
Southeastern AV Integrators Merge
Multi Media Services of Atlanta and Video Systems of the Carolinas of Charlotte, N.C., have merged to form Unified AV Systems (UAVS).
Multi Media Services of Atlanta and Video Systems of the Carolinas of Charlotte, N.C., have merged to form Unified AV Systems (UAVS). The combined company is headquartered in Atlanta with operational centers in Charlotte and Greenville, S.C., as well as additional sales and technical support offices in Raleigh and Greensboro, N.C.
Officials said Jim Pressley will serve as UAVS' CEO and Bruce Banbury as its president.
The merger was reportedly months in planning and combines 55 years of operation as separate closely held businesses to form a single, integrated pro AV company. Company officials said UAVS remains employee owned, but has expanded employee participation by implementing a broad-based employee stock ownership program.
"A dedicated work force is central to our ongoing success," said Pressley in a statement. "As we looked at our complementary core competencies, we realized there was tremendous value in a combined company. When we added the strength of employee ownership and a resurgent Southeast economy, the merger logic was compelling."
"UAVS will maintain a passion for teamwork and excellence led by our employee owners," said Banbury in a statement. "UAVS now has the scale and talent to provide compelling value for customers of all sizes. This provides opportunities for growth and achievement for everyone involved."
The company's operational presence in North Carolina, South Carolina, and Georgia will be particularly pronounced in the videoconferencing, education, and corporate sectors, officials said. The combined company has more than 100 employees.
UAVS remains a member of USAV Group, an industry alliance of pro AV integrators. Multi Media Services and Video Systems of the Carolinas were both USAV Group Integrators prior to the merger. USAV Group acted in an advisory role on the merger, providing counsel on valuation, deal structure, financing, and operational integration. "We're thrilled to see two USAV Group Integrators combine for growth and value" said USAV Group CEO K.C. Schwarz, in a statement. Schwarz will sit on the UAVS Board of Directors.