Meridian PO Finance LLC, the senior secured lender to Top 40 supplier Camsing Global LLC (asi/43668), has sold all of the assets of Camsing to Capital Supply Group Inc. Financial terms of the deal were not released.
“I am very excited about the potential that comes with the history rich brands that we will be acquiring,” said Dan Reeb, managing director of Capital Supply Group, a private capital investment group. “The management team of Camsing Global signed up for a very tough task when they purchased these assets. I am most impressed with what they were able to accomplish with the limited resources that were available to them. We believe that with the right financial support and structure, these brands will be restored to greatness very quickly.”
Camsing is the parent company to supplier brands Adva-Lite, Avaline, Dart Business Accessories, Drinx, Falcon Promotional Products, It’s All Greek to Me, StyleWrite, and Toppers. In a release, the company said it will use the capital from this acquisition to support the organization’s future growth. However, at press time, Camsing had yet to respond to Counselor’s inquiry for further details about the deal or any potential management or operational changes at the company moving forward.
Gill Studios Acquires Barton Nelson
Top 40 firm Gill Studios (asi/56950) has acquired the assets and brand of recently-closed supplier Barton Nelson (formerly asi/38670). Financial terms of the deal were not disclosed, but as a result of the transaction, a new company – Gill Bebco LLC – has been formed. Going forward, though, the Gill Studios and Bebco offerings will be marketed and sold separately as different lines. The Bebco Line will include products such as sticky notes, scratch pads, and related items.
“The acquisition was an opportunity instead of a planned strategy,” Paul Lage, CEO of Gill Studios, told Counselor. “Gill is an expert with adhesives and in printing on flat materials. Therefore, it is a good fit. There are some differences between the two companies and that’s why we will keep them separate.”
Barton (BNI) operations – which shut down in June after 50 years in business – will resume out of its facility in Kansas City, just 10 miles from Gill Studios. As part of the reopening, according to Lage, Gill has plans to hire approximately 40 former BNI employees.
Prior to its closure this summer, BNI had laid off 60 employees in its Kansas City office and about 300 in its facility in Mexico. Back in 2011, amid financial struggles for the firm, BNI received a $5.7 million cash injection from Advantage Capital Partners. At the time, the company said the capital would be used to fund its operations and growth initiatives.
Proforma Acquires Printing Company
Top 40 distributor Proforma (asi/300094) announced that Steve Flaughers, owner of Proforma 3rd Degree Marketing, has partnered with Dick Kulick, owner of Proforma Excalibur Business Solutions, to acquire Hyde Brothers Printing Company. Financial terms of the transaction were not released, but the acquired company will now be known as Hyde Brothers Printing and Marketing.
“Pursuing acquisition opportunities was the next step in significantly growing my business, and purchasing Hyde Brothers will more than double my sales this year,” said Flaughers. “We’re looking forward to elevating the Hyde Brothers brand by providing clients with innovative, cutting edge marketing support.”
Together, Flaughers and Kulick will extend the business’s offerings to include promotional items, multimedia services, branded apparel, mobile marketing and website design. “Selling our business to Proforma was a win-win situation,” said Lew Camp of Hyde Brothers Printing. “We have been providing commercial printing services for more than 100 years and we want to continue to grow and serve our customers with the best products and services we can. This relationship will help us continue to thrive and help our clients achieve their business goals.”
McCabe Acquires M.P. Russo
Ontario-based distributor McCabe Promotional Advertising Inc. (asi/264901) has acquired the promo ad division of M.P. Russo & Associates, the companies have announced. Financial terms of the deal were not disclosed. “We are thrilled to have M.P. Russo join our team to create a stronger presence north of London,” said Jamie McCabe, president of McCabe Promotional. “We are looking forward to growing our business together.”
Per the agreement, M.P. Russo staff will continue to work out of its Clinton, Ontario, location under the McCabe banner.