Three Canadian Suppliers Merge Into New Company
August 20, 2009
Citing tougher market conditions and a strong fit of combined leadership, a trio of mid-sized Canadian suppliers has decided to form a new, single company. Starting August 24, Hydeport (asi/63095), Precidio Promo (asi/79300) and AdBlock will operate under the name DezineCorp. "Increasingly, this is a tougher and tougher market to compete in," says DezineCorp President Bill Yelland, formerly the vice president of Precidio. "We believed that by combining our talents, we would have a much stronger senior team and stronger team throughout the organization."
Yelland confirms that all three brands will be serviced by DezineCorp, and that the new corporation will continue to sell the majority of products available before (both Precidio and AdBlock sold drinkware, while Hydeport offered leather and business goods). "These are exciting times," says DezineCorp CEO Paul Bami, formerly of Hydeport. "The combination of these three brands will provide our distributors with top of the line service, quality and a broad range of innovative products."
The new venture was jointly initiated between Yelland and Bami. AdBlock owner Bob Graham will work with DezineCorp as the director of operations. The new company will operate out of Hydeport's offices in Mississauga, Ontario and will carry a single ASI number. Individually, each of the supplier companies had less than $10 million in revenues apiece.
Says Yelland, "I spent the last several months talking to people that I've known for many years in the industry, and I thought that it was the best fit of people, as well as the companies."