PromoMAX, an independent affiliate of Top 40 distributor iPROMOTEu (asi/232119), has acquired Republic, MI-based distributor Northern Specialty Co. (asi/285350). Brokered by the Distributor Exchange, the deal’s financial details are being kept confidential.
Based in New Berlin, WI, PromoMAX said the acquisition will expand the firm’s presence in Michigan. “Northern Specialty has a loyal customer base and great staff in place,” said Sheri Steinle (pictured on the left), owner of PromoMAX, which was founded in 2016. “PromoMAX is excited about the opportunity to utilize the technology and resources available to offer a more expansive product selection, and to add a larger marketing resource team to this customer base.”
Steinle told Counselor that she will be retaining the current staff at Northern Specialty Co. “The staff is knowledgeable and eager to take the business to the next level,” she said. Northern Specialty Co.’s former Owner Jim Hilsabeck will remain for the course of the year to help with the transition before retiring. Steinle and Hilsabeck have been traveling to Northern Specialty clients for in-person meetings. “I’m excited to continue the road trip,” she told Counselor.
Steinle said that Northern Specialty has been in business since 1929. The company will continue to go to market under its long-standing name. “It made sense for me to keep the name, location, and staff to make a smooth, seamless transition,” Steinle told Counselor. “The only difference is that I will be able to provide a wider range of products and services due to my affiliation with iPROMOTEu.”
Looking ahead, Steinle is bullish about sales. “With the combination of both entities, I expect to double revenue over the next two years,” she said.
The Distributor Exchange, which is based in Wayland, MA, helps promotional products distributors sell their businesses. Steinle credited the firm for its work helping her bring Northern Specialty Co. into the PromoMAX fold. “I have been working to grow my business. This deal is a perfect solution for me – it would not have happened without The Distributor Exchange,” Steinle said.