As first reported in a Breaking News Alert yesterday, Top 40 distributor firm Safeguard Business Systems (asi/316203) has completed its acquisition of Fontis Solutions (asi/230085). Financial terms of the transaction, which was finalized on May 5, were not released.
“When you look at the Fontis business, it’s really clear to see why they’ve been so successful and why they are the largest business in our industry operating west of the Rocky Mountains,” said Scott Sutton, director and vice president of Safeguard Acquisitions Inc. “Simply put, it’s the people. Not only are they skilled and knowledgeable, but also dedicated and passionate about helping customers run and grow their businesses. Their culture, focus and strategy align perfectly with ours and we’re extremely excited to move forward together in providing the services and products needed by our customers to help each win in the marketplace.”
Fontis, which is based in Irvine, CA, was founded in 1983 as Image Printing Solutions and adopted the Fontis Solutions name in 2011. The company, a member of Counselor’s Best Places to Work list for the past two years, is a print services provider that also sells promotional merchandise, online communications, and technology services. The Print Services & Distribution Association (PSDA) estimates that Fontis recorded total 2014 revenues of $40 million.
Safeguard, a subsidiary of publicly-owned Deluxe Corporation (NYSE: DLX), ranks number 32 on Counselor’s Top 40. The company does more than $40 million in annual North American promotional products sales.