Standard Register Co (NYSE:SR) acquires Workflow One, registers rise

Posted by Lynn Eisler August 2, 2013 0 Comment 1604 views


Standard Register Co (NYSE:SR) has bought WorkFlowOne for $218M. The acquisition was announced by SR on Thursday and its stock skyrocketed by 360.49% at the close of the day’s trading session. The buyout is being financed with the assumption of $21M of long-term debt and warrant issuance that have an $8M estimated value. Both, SR and WorkFlowOne are roughly of the same size and are headquartered in Dayton. The combined company has a workforce of 4,000 employees.

Creating a mammoth

The company will be integrating its operations very rapidly and go to market under the Standard Register name. At the outset, WorkFlow One will be operating as a SR subsidiary. The latter’s president and SEO, Joseph Morgan Jr will he the head of the combined company. Via the integration, the former president and CEO of WorkFlowOne will be serving in an advisory capacity. This acquisition will lead to the creation of the biggest printing and print-management company in North America.

Impressive portfolio

Both companies have conventional digital printing as well as distribution facilities. These are spread right across the U.S, Mexico and Canada. They are also involved in software development. SR serves a large number of the biggest commercial and healthcare organizations. It has an impressive portfolio of multi-channel marketing and communication solutions that are technology-enabled. These services are supported by a countrywide kitting, printing and distribution network. WorkFlowOne provides document management, printing, marketing and distribution services to a massive customer-base.

SR expects to achieve annual revenue of $1B and annual savings of $40M once the integration of the companies is complete. The expectation is that the acquisition will reap yields instantaneously from the combined operating capabilities and sales. According to the release, this will go a long way in improving the EBITDA of the combined company.


About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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