Counselor Top 40 distributor Safeguard Business Systems (asi/316203) announced on Friday it had completed its acquisition of Idaho Business Forms, Inc (IBF). Financial terms of the deal, which continues a string of acquisitions for the Dallas-based company, were not disclosed.
"With IBF joining the Safeguard network, we have gained a talented, passionate and successful group of dedicated employees, strong relationships with over 1,500 customers who view IBF as a business solutions provider and a fantastic, innovative approach to providing W2 processing services to small business customers," said Scott Sutton, Safeguard's vice president of franchise development. "We can also now leverage the strength of Safeguard's leading manufacturing capabilities and business services offerings to offer each customer additional resources to help them run and grow their business."
Safeguard ranked eighth in Counselor's 2013 list of the fastest-growing distributors and reported 111% revenue growth from 2010 to 2012. Other recent acquisitions and related transactions completed by Safeguard include: Intraform, Print Concepts, Print Data East Coast, AccuSource Solutions, Advent Business Forms, Blue Moon Promotions, and Bradley Marketing Group.
"We have actually completed nearly 90 transactions in the last five and a half years," Sutton told Counselor, "so it's been an evolving strategy that the company committed to."
IBF offers business forms and suppliers, promotional products and apparel, payroll processing, creative fulfillment and more. "With a history of market strength and success," said Sutton, "IBF will add to our growing strength and presence in the western U.S., where we recently completed acquisitions of Docusource (Portland) and Advent (Seattle)."
Ranked as the 34th largest distributor in the industry, Counselor estimates Safeguard generated 2012 North American ad specialty sales of $38.4 million.