The DiA Group has acquired 100% of the shareholding in PEC Video Ltd, the London-based camera equipment dealer and rental company.
Based in Charlotte Street, PEC was established in 1932 as a manufacturer and supplier to the film industry. Although it still supplies film splicers and stock, it now majors in the supply, hire and servicing of professional video production equipment.
The DiA Group purchased PEC Video Ltd in its entirety in December 2015, taking on assets, premises and staff, including managing director Dan Wheeler and sales director Alan Alger. No redundancies will be made.
As part of the DiA Group, PEC will operate alongside another DiA-owned company, Alias Hire, with Alias Hire handling all kit rental enquires and PEC concentrating on equipment sales.
By working together the two companies will also be able to offer more intricate rent-then-buy deals to customers.
Chairman of the DiA Group Sir Eric Peacock CMG DL said: “This purchase fits with our plan to invest in heritage brands and develop them within the media sector. From a DiA perspective, having both sales and rental capabilities will help us to expand geographically.”
Dan Wheeler added: “Joining a larger group gives us access to more funding, expertise, and wider opportunities. Ultimately this will benefit our customers who we are determined to provide with the best products and the best service. With Alias taking care of all the rentals, we will have more time to concentrate on what we do best: selling equipment.”
Mark Wilson, operations manager at Alias Hire, said: “Our new central London location and relationship with PEC will allow us to expand, build and improve on the services we offer. It also gives us a wealth of kit within easy reach, allowing us to be more dynamic and responsive to customer needs.”
At the same time, the DIA Group has purchased further shares in Alias Hire, giving it 100% ownership of the company.