Workflow Management Adds Two In California
IRVINE, CA—Palm Beach, FL-based Workflow Management, which has been quietly building momentum for the last year, has begun to get attention for its latest growth moves, by purchasing HunterPacific, located here, and Sundance Litho, based in Anaheim, CA.
Together, these two newly acquired commercial printers add approximately $11.2 million in annual revenues. Workflow paid $8.9 million in the all-cash deal.
Tom D’Agostino Sr., president and CEO of Workflow Management, comments, “We’re very pleased with the addition of HunterPacific and Sundance. These operations contribute to a larger product offering and deeper penetration in the Southern California area. While we maintain our primary focus of growing our Integrated Business Services Division and maximizing our iGetSmart.com Division, we continue to seek tar- geted and accretive Fulfillment Division acquisitions such as these. We look forward to fully integrating them into Workflow’s rapidly expanding Southern California operations.”
Commenting on the benefits of selling to Workflow, David Behrmann, former owner of HunterPacific and now president of the combined companies, states, “Workflow Management offered us the best of both worlds. By keeping our small company atmosphere, we can maintain the long-term relationships we’ve developed with our clients over the years. At the same time, we have all the resources of a large company working for us…things like increased buying power, the ability to sell a ‘one-stop-shop’ and an e-commerce, business printing solution. I look forward to fully developing the synergies that exist with the entire Workflow Management family of companies.”
Steve Gibson, CFO of Workflow Management, adds: “The numerous opportunities for consolidation with these two operations make them among our most accretive acquisitions to date. We estimate that the addition of HunterPacific and Sundance Litho’s operations will generate additional earnings per share of approximately $0.02 during the coming 12-month period.”
Workflow Management has operations located throughout the United States and Canada, with more than 2,800 employees. Its client roster includes businesses that range in size from small and home offices to large and multi-national companies like Aetna, Veryfine Products, Brookstone and Salomon Smith Barney.