The Sourcing Group Acquires Ray Hough Company
Established in 1970, Ray Hough Company has made a name for itself in the banking industry. In addition to serving clients’ form needs, the distributorship helps financial institutions stay profitable by reducing costs associated with the procurement, warehousing and distribution of bank forms throughout branch networks—a business model that compliments TSG’s own technology platform, Joe Falcone, chief operating officer of TSG, pointed out. According to its website, Ray Hough Company also supplies a web-based or PC-based purchasing management system, “The Purchasing Assistant.”
“We are excited to join an innovative and customer-driven company like TSG,” said Ray Hough, president of Ray Hough Company. “[Its] technology, products and services will provide our customers with the full line of print and branded merchandise programs needed to drive their business. We look forward to bringing those offerings to our many longtime customers.”
Dennis Clemente, president of TSG, looks forward to reaching new clients as a result of the acquisition.
“Ray and Greg Hough, along with their team of specialists, will further our expansion into the mid-Atlantic region,” he shared.
By welcoming Ray Hough Company to its portfolio of companies, TSG is expected to surpass $100 million in sales for 2019. Earlier this year, TSG purchased Carpe Diem Sales & Marketing, an Orlando, Florida-based premium and promotional marketing company.