Florida Distributors Merge
March 12, 2009
Two Tampa-area distributors, Fullbore Promotional Products (asi/199674) and Corporate Image Apparel (asi/169064) have merged, creating a new company named LogoHQ (asi/255568). As part of the deal, Corporate Image Apparel president Scott Welton has been named LogoHQ COO and Phil Ruzicka, formerly of Fullbore, has been named LogoHQ president. “Scott runs the facility and makes the day-to-day decisions and it’s my job to promote the company,” says Ruzicka. “We really feel we can be a powerhouse in Tampa Bay.”
The deal, first discussed last summer, combines companies that occasionally worked together on projects in the past. While Fullbore specialized in screen printing and embroidery, Corporate Image Apparel focused on creative marketing and Web stores. “We would sometimes outsource jobs to Phil,” says Welton. “This deal allows us to offer the best of all worlds to our customers, with less overhead and better pricing.” Both Ruzicka and Welton say the merger made logical business sense, with the strengths of one company able to complement the strengths of the other. “This is a case of two companies that were doing really well coming together,” says Ruzicka.
LogoHQ, based in St. Petersburg, is now operating out of a newly-renovated 20,000 square foot facility and employs 27 people. Combined, Fullbore and Corporate Image Apparel produced 2008 revenues of around $3.5 million. The companies were both established 15 years ago. “I feel this has re-generated the juices and solidified relationships with customers,” says Welton. “Our creative team can offer new solutions and services.”
LogoHQ has high expectations for sales in 2009. “We’ve been slammed non-stop with more opportunities in the last four months,” says Ruzicka. “Even though corporations are cutting their budgets, many are still focusing on promotion, especially through wearables.”