Standard Register Pays $218M to Net WorkflowOneSeptember 2013
DAYTON, OH—Standard Register has acquired WorkflowOne in a transaction valued at $218 million, financed by assuming $210 million of long-term debt and the issuance of warrants with an estimated value of $8 million.
Standard Register expects to achieve $1 billion in annual revenue and $40 million in annual savings when the integration of the two companies is complete. The company will go to market under the Standard Register corporate umbrella and says it will rapidly integrate its operations.
WorkflowOne will initially operate as a subsidiary of Standard Register. Joseph Morgan Jr., president and CEO of Standard Register, will lead the combined company. Timothy Tatman, former president and CEO of WorkflowOne, will serve in an advisory capacity through the integration.
Both companies are headquartered in Dayton, OH, with software development, traditional and digital printing and distribution facilities throughout the United States, Canada and Mexico.
Standard Register serves many of the largest health care and commercial organizations with a portfolio of technology-enabled multi-channel communication and marketing solutions supported by a nationwide printing, kitting and distribution network.
WorkflowOne provides printing, document management, distribution and marketing services to a large customer base.
The combined company has 4,000 employees, including 920 in Dayton.