Top 40 distributor Safeguard Business Systems (asi/316203) announced last week that it has acquired the assets of QBF Inc., a Plymouth, MN-based provider of print services and promotional products. Financial terms of the transaction were not released.
“We’re thrilled to have the QBF organization as part of the Safeguard network,” said Scott Sutton, director and vice president of Safeguard Acquisitions. “The caliber of the people and their culture of providing valuable solutions to customer challenges fits perfectly with the culture and vision at Safeguard. I know (QBF Founder) Tom Hoerr is proud of what he’s built over his many years of leadership at QBF. We take seriously the legacy of the business he created and look forward to continuing the success of the enterprise by continuing to meet the evolving needs of customers by providing even more products, services, and solutions.”
QBF was founded in 1983 and is one of the largest providers of diversified marketing products and services in the Midwest. The company provides an array of print, cross media marketing, point-of-sale, apparel, and promotional products, and business and technology services to its clients. QBF is the latest addition to the Safeguard network, which has completed more than 85 similar transactions since 2008.
Safeguard Business Systems ranked as the 34th-largest distributor in the ad specialty market last year, and reported its 2013 North American promotional products sales as $43 million, a 12% increase over 2012.