Workflow Management to Sell Relizon Canada to the DATA Group
Headquartered in Greenwich, Conn., Workflow Management signed a share purchase agreement to sell 100 percent of the outstanding stock of Relizon Canada to The DATA Group Income Fund—a provider of document management solutions with 25 facilities throughout Canada.
Completion of the transaction is subject to the satisfaction of customary closing conditions, including the approval of Canada’s Competition Bureau. The transaction is expected to close during the third quarter of this year.
Workflow Management acquired its interest in Relizon Canada in Nov. 2005, when it purchased The Relizon Company from The Carlyle Group. Workflow Management subsequently merged the U.S. assets of Relizon into its WorkflowOne brand and continued to operate the Canadian assets under the brand name Relizon Canada.
Said Greg C. Mosher, chief executive officer and chairman of Workflow Management, Inc., “With the purchase of Relizon Canada, The DATA Group is able to increase its size and financial strength and achieve further diversifications of products and customers, while the people of Relizon Canada join forces with their peers in the combined company.”
Mosher explained that while Workflow Management intends to focus most of its energies on providing business services to organizations based in the U.S., the company will hold a significant ownership stake in the combined Canadian companies and expects to maintain a strategic alliance with The DATA Group to service multi-national opportunities.
For more information, visit www.workflowone.com.