As first reported in a Breaking News Alert on Friday, Counselor Top 40 distributor Halo Branded Solutions (asi/356000) has acquired Hanover, MD-based distributor Chesapeake Business Solutions (asi/161467). Financial terms of the deal were not disclosed.
As part of the transaction, Chesapeake’s sales team and key administrative personnel will now join Halo, as will Neil Van Malderghem, the company’s founder and president. “Neil and his team have built a great business and will help us expand our footprint in an important market with blue-chip clients,” said Dale Limes, Halo’s senior vice president of sales. “We are pleased to reward them for their efforts, and I am confident they will continue to grow with Halo’s technology, marketing, and client support structure.”
Halo’s Baltimore-area salespeople will now relocate to Chesapeake’s office. “Halo recognized the value we place in our client relationships, and shared our vision of the potential we can achieve with strong financial, technological, and marketing support,” said Van Malderghem. “The end result is an opportunity to better serve our current clients while we focus on acquiring additional business.”
Halo ranks as the sixth-largest distributor on Counselor’s Top 40, and the company reported North American promotional product sales of $196 million in 2013, a 5.3% increase over 2012.