"Harvey-Daco is a well-run, established industry distributor that, like HALO, prides itself on the lasting relationships it has built with clients and account executives," said Marc Simon, CEO of HALO, in a statement. "We couldn't be more pleased to have Pam and Bob Kreuzburg and the rest of the Harvey-Daco team on board."
Following the deal, HALO will maintain Harvey-Daco's current offices throughout Texas and will be retaining key support staff. "We were impressed with the HALO team," said Pam Kreuzburg, president of Harvey-Daco. "They share the same core values of Harvey-Daco and operate like a family-run business that our salespeople and customers have become accustomed to."
HALO ranks as the sixth-largest distributor in the industry, after reporting 2014 North American ad specialty sales of $218.1 million, an 11.3% increase over the previous year. This is the company's second large deal within the past few months. In June, it closed on a deal to acquire the assets of former Top 40 distributor Newton Manufacturing, after Newton had filed Chapter 11 in U.S. Bankruptcy Court in Des Moines, IA.