Boundless Network Acquires Two Firms
In December, Boundless Network (asi/143717) completed two acquisitions, bringing its 2008 total to seven. In the last few weeks of the year, The Austin, TX-based distributor acquired both Petty Marketing Group and Custom Solutions (asi/173250). “We’re built for speed,” Boundless CEO Jason Black says. “We’ve got a first-class infrastructure that can run really fast. We can do an acquisition a week if the opportunity presented it. But we’re not focused on doing any acquisition other than the right acquisition.”
Petty Marketing Group is a Tennessee-based distributorship started by Ralph Petty a decade ago that has grown into a multi-million dollar business. The three offices of PMG will be joining Boundless along with Petty himself and a “high percentage” of the distributor’s employees, according to Black. PMG will keep its name for now but will transition into the Boundless name sometime into 2009. Financial terms of the deal were not disclosed, though Black said that cash, earn-out pay and stock options were all part of the acquisition.
Boundless also added the Texas-based Custom Solutions to its rapidly growing organization. “Custom Solutions has strong relationships with some of the country’s top brands,” says Black. “Now, as part of Boundless Network, Custom Solutions will be able to leverage our technology platform to expand market share and offer quantifiable value to clients who are looking to save money in this recessive economy.”
According to company leaders, Boundless is looking to further its growth in the promotional products industry by acquiring more distributors in 2009. In just three years, Boundless has already added nearly 150 people to its staff, and now maintains 18 regional offices across the country. Founded in 2005, Boundless was recently named to Counselor’s Best Places to Work list.