Safeguard Acquires Supply Company
Financial Terms Of Deal Not Released
Top 40 distributor Safeguard Business Systems (asi/316203) announced last week that it has acquired Nashville-based Financial Institution Supplies Inc. (FISI). Financial terms of the deal, which closed on April 1, were not released.
“Safeguard is thrilled to bring on the FISI organization as a part of our network,” said Scott Sutton, vice president of Safeguard. “Their team is excellent, they are top notch in servicing the customer and their innovation is ever evolving, fitting in seamlessly with Safeguard's vision and mission for the future. We are expecting this partnership to elevate the customer experience with additional initiatives and offerings that will help customers successfully grow their businesses.”
FISI’s business is focused on a core group of sectors, including integrated programs for the financial, health care, and manufacturing markets. The company, which was founded in 2006, provides office products and print supply chain management for its customers. It’s the latest in a string of acquisitions for Safeguard, which has brought on companies such as Prime Business Solutions, Innovative Print & Media Group, and Consolidated Graphic Communications within the past two years.
Last year, Safeguard ranked as the 34th-largest distributor in the ad specialty market. The company said that it increased its North American promotional products revenues by 12% in 2013.