Standard Register Acquires WorkflowOne
Standard Register, Dayton, Ohio, announced today that it has acquired top 50 distributor WorkflowOne in a transaction valued at $218 million, financed by assuming $210 million of long-term debt and the issuance of warrants with an estimated value of $8 million.
“This strategic combination brings together two companies with highly complementary business and market presence to create a leading player in workflow, communications and analytics,” said Joseph P. Morgan, Jr., president and CEO of Standard Register. “The acquisition of WorkflowOne increases our customer base and incremental growth opportunities. It also provides new markets and capabilities in retail and promotional products and cross-selling opportunities. And, importantly, we are acquiring a significant pool of talented people with expertise in our industry and markets.”
WorkflowOne, also based in Dayton, reported total annual sales of $502,400,000 for fiscal year 2012. The company ranked number 10 on Print+Promo's sister publication, Promo Marketing, with promotional product sales reaching $101 million.
Check back with Print+Promo The Press on Tuesday for more information on the acquisition.