ESP Canada Acquires Promobilia
Financial Terms Of Deal Not Disclosed
Ontario-based firm ESP Canada (asi/63855), the parent company of supplier K&R Precision (asi/63770), has announced the acquisition of Promobilia (asi/79902). Financial terms of the deal, which was made public on April 9, were not disclosed. "The fit and culture between the two companies will make for a very positive experience for our valued customers going forward," said Merrick Falkenstein, president of ESP. "I was impressed with the professionalism and product knowledge the Promobilia staff has acquired."
According to an ESP statement, Promobilia's offices will remain in British Columbia and all main employees will be retained. There will also be no changes to Promobilia's contact information. Looking to exit the industry to pursue other business interests, Promobilia owner Paul Kan Lum approached ESP hoping to make a deal. "We share the same culture and philosophy of building a solid team, being honorable, with first class professional customer service," Lum said. "ESP fits all I was looking for."
Founded in 1993, ESP Canada offers a wide range of products, from drinkware to bags to first aid kits. Last November, Falkenstein told Counselor that he was implementing a multi-phase expansion plan that included additional advertising, an upcoming acquisition, as well as buying a 50% interest in a factory in Dongguan Province, China. The goal, Falkenstein said, was to provide factory-direct service to distributor customers.