FRP Corporate Finance has advised professional audio technology and equipment provider HHB Communications Holdings Limited (HHB) on its sale to specialist audio visual distributor Midwich Group.\r\n\r\nLondon-based HHB is one of the leading distributors of specialist professional audio equipment, content creation products and music technology in the UK.\r\n\r\nFounded in 1976 by its existing managing director Ian Jones, the business has two divisions; HHB, which offers a range of professional audio brands and solutions, and Source Distribution \u2013 a distributor of music technology and content creation brands.\r\n\r\nMidwich Group, which is headquartered in Diss, Norfolk is one of the world\u2019s largest specialist audio visual technology distributors and solutions providers. The business was founded in 1979 and operates in 21 countries across Europe, the Middle East, Africa, Asia Pacific and US. It has annual revenues of \u00a31.2billion, which includes \u00a3493m in the UK and Ireland.\r\n\r\nAs part of the transaction, whilst the business will continue to trade as HHB, ownership transfer will open up new commercial opportunities for both HHB and Midwich. Jones will remain with the business as managing director, supported by HHB\u2019s existing leadership team and its 55 employees. Financial details are undisclosed.\r\n\r\nJames Cooper from FRP Corporate Finance\u2019s Norwich office acted as lead advisor on the transaction, presenting the business to Midwich, negotiating a deal structure that aligned the interests of all shareholders and supporting at all stages to deliver a successful conclusion to the deal.\r\n\r\nCooper, director at FRP Corporate Finance, said: \u201cHHB has a well-established reputation in the professional audio market, as a convenient \u2018one-stop audio shop\u2019 for broadcasters and post-production companies alike.\r\n\r\n\u201cHHB\u2019s specialist products have been behind some of the world\u2019s best loved music and broadcast productions, and the UK broadcast industry continues to attract investors worldwide. The sale to Midwich Group represents an important milestone in the business\u2019 ongoing growth journey and will help it to scale in the years ahead.\u201d\r\n\r\nThe transaction was completed with legal advice from Birketts, who acted for HHB. Mills and Reeve acted for Midwich Group.