Halo/Lee Wayne Acquires ESKCO
Counselor Top 40 distributor Halo/Lee Wayne (asi/356000) announced that it has acquired the ad specialty distributor business of ESKCO Inc. (asi/189390), based in Dayton, OH. The deal was an asset purchase and was completed as an all-cash transaction. ESKCO will retain its vinyl manufacturing business and now will become a supplier in the ad specialty market, while its 13-member sales force will now sell under the Lee Wayne brand. The companies had been in talks for several months, according to Terry McGuire, Halo/Lee Wayne’s senior vice president of marketing.
Halo executives expect additional revenue from the acquisition and the extra salespeople now selling for the company. “The ESKCO transaction provides a unique opportunity to partner with an experienced, high-performing group of account executives while creating a strategic supply relationship in a key product category,” says Marc Simon, CEO of Halo/Lee Wayne.
Halo reported 2007 revenues of $145 million, growing its sales 11.5% compared to 2006. The purchase of ESKCO, which most recently reported annual ad specialty revenue of $11.5 million to ASI’s CreditConnect program, was the second major acquisition made by Halo in 2008. In April, the company bought fellow Top 40 distributor Goldman Promotions. Together, the two acquisitions will add more than $45 million to Halo’s annual revenue totals.