Top 40 distributor Proforma (asi/300094) announced today that Steve Flaughers, owner of Proforma 3rd Degree Marketing, has partnered with Dick Kulick, owner of Proforma Excalibur Business Solutions, to acquire Hyde Brothers Printing Company. Financial terms of the transaction were not released, but the acquired company will now be known as Hyde Brothers Printing and Marketing.
“Pursuing acquisition opportunities was the next step in significantly growing my business, and purchasing Hyde Brothers will more than double my sales this year,” said Flaughers. “We’re looking forward to elevating the Hyde Brothers brand by providing clients with innovative, cutting edge marketing support.”
Together, Flaughers and Kulick will extend the business’s offerings to include promotional items, multimedia services, branded apparel, mobile marketing, and website design. “Selling our business to Proforma was a win-win situation,” said Lew Camp of Hyde Brothers Printing. “We have been providing commercial printing services for more than 100 years and we want to continue to grow and serve our customers with the best products and services we can. It was a no-brainer that this relationship will help us continue to thrive and help our clients achieve their business goals.”
The opportunity to complete this transaction first arose through Flaughers’ participation in Proforma’s Mergers & Acquisitions (M&A) program, which is designed to help Proforma companies complete acquisitions. Proforma’s M&A team guided Flaughers and Kulick through the buying process, including helping to structure the deal. “Proforma’s mergers & acquisitions team played a key role in securing this deal,” said Kulick. “Relying on their expertise gave us peace of mind. Steve and I could keep focusing on what we do best – selling – and we let the M&A team do the heavy lifting.”
Proforma ranks as the second-largest distributor in the industry, after reporting 2013 North American ad specialty sales of $348 million, a 7.9% increase over 2012.