National Premium Acquires C.A.M.
Vol. 840
August 9, 2011
Pewaukee, WI-based distributor National Premium
(asi/281050) has acquired Overland Park, KS-based C.A.M. Inc. (asi/154695),
the companies have announced. Financial terms of the deal, which was finalized
on August 1, were not disclosed. “Our companies are both family-owned and
operated and we have similar cultures,” says Kim Busboom,
National Premium’s vice president of operations & marketing. “We’ve talked
about attractive markets to target and Kansas City was one of those areas. We also have
the same operating platform, which allows for implementation ease.”
According
to the terms of the transaction, C.A.M. will continue to operate under its
current name through 2011, but will transition to the National Premium name
next year. All of C.A.M.’s 22-person staff, including
executives, will remain in the firm’s Kansas City office and additional hires are
expected, according to Busboom. “We’re interviewing
to expand the support staff,” she says. “We plan to grow this location.”
Already
in 2011, Busboom says C.A.M.’s
sales are on pace to reach $7.2 million, exceeding its internal $6 million
forecast. Separately, sales at National Premium are expected to hit $22 million
this year, rising from its 2010 revenues of roughly $19 million. Through its
just-completed deal, National Premium increased its anticipated annual revenues
by 35% to about $30 million. The company also gained another fulfillment center
with the addition of the acquired location. “We’re not going to come in and
dictate processes to C.A.M.,” Busboom says. “It’s
going to be business as usual in their office. We’re going to see what works
best and we anticipate significant growth.” |