Thursday 31 December 2020

Mergers & Acquisitions in December

Here at Promo Gift Blog, we keep up to date with the latest news about the Promotional Products industry. As we close of the year, we saw a surge of mergers and acqusitions this month. Here are some of the mergers and acqusitions of December.

BIC Acquires Rocketbook

Earlier mid-December, France-headquarted BIC Corp acquired Rocketbook. The acqusition was closed for $40 million. This comes after BIC sold BIC Graphic, now known as Koozie Group in 2017 to private equity firm H.I.G. Capital. Koozie Group recently acquired IMAGEN Brands in December as well.

Rocketbook was founded in 2014, selling resuable notebooks powered by the brand's cloud application. Since their rejection on Shark Tank in 2017, the company is now a 38-person operation with a net sales of $32million this year. Rocketbooks products are carried by supplier such as Leed's and VisionUSA.

In a statement by senior sales manager, Hannah Shaw, "Rocketbook will remain in promo and have no plans to change that anytime soon". Founders of Rocketbook, Lemay and Epstein, believes that BIC's entrepreneurial spirit, values and visions for the future of the category are aligned with how we work and where they want to go. 

Facilisgroup Acquires Assets of Corexpand

Facilisgroup, a software as a service company and partnering community for promotional products firms , has recently acquired software assets from Corexpand. The acqusition is said to strengthen Facilisgroup's technologIcal services and to boost their e-commerce platform. The platform is said to be available in the second quarter of 2021.

President of Facilisgroup, Ashley McCune, said “The innovation driving the evolution of our e-commerce offering is rooted in our company’s north star: driving efficiency and growth for our partners,” 

Corexpand has been a leader in B2B e-commerce technology for 20 years. It offers customizable, interactive marketplace solutions to amplify sales, maximize spend management and empower business growth. This acqusition,will allow Corexpand to focus on its B2B e-commerce marketplace and management solutions.

Delta Plus Group Acquires ERB Industries

France-based Delta Plus Group, a safety equipment supplier acquired ERB Industries based in Woodstock earlier this December. ERB Industries has manufactured safety equipment and supplies in South and North America for more than 60 years. Financial details of transaction have not yet been released. 

The acqusition is said to be mutually beneficial, with Delta Plus Group looking to expand their presence in the U.S Market. They currently operate in more than 30 countries. Meanwhile ERB is looking to grow their product line with Delta Plus Offerings.

Jerome Benoit, President of Delta Plus Group said that the acqusition was perfect to complement earlier acquistions in the US. “The addition of ERB Industries to our portfolio will strengthen our relevance and value position for customers. We are impressed by the high-quality standards of ERB Industries, and we look forward to working with Sheila Eads and her team to accelerate the development of the combined ERB/Delta Plus offering and to take an exciting new step forward in fulfilling our vision of becoming a leader in the U.S. market for personal protective equipment.”

“The Delta Plus values of entrepreneurship, family and curiosity parallel those of ERB Industries,” said ERB CEO Eads, in a statement. “We are very excited to increase the value to our customers by broadening our current product offering through the strength of the Delta Plus brand and to build on the successes of both businesses together for many years to come.”

Vault Promotions Acquires GMCline

This December, Vault Promotions announced their acqusition of GMCline. Financial details of the deal have yet to be released. Founded in 1989, Gateway Marketing Concepts specializes in badge, nameplate and identification products.

“Our two companies complement each other perfectly in terms of both production and product lines,” Andy Logan, co-owner of Vault Promotions, said in a press release. “When you add their 30-plus years of experience in the industry, it wholly aligns with our focus on online fulfillment.”

Judy Eppel, the former owner of GMCline, will remain part of the combined organization to ensure continuity of badge-making service. 

“When Judy and I began discussing the possibility of Vault acquiring GMCline, it instantly became clear that their production capabilities would enhance our current offerings,” said Josh Robbins, co-owner of Vault Promotions. “By adding GMC’s impressive stable of clients, production techniques and large-scale equipment, Vault will continue to lead the promotional products industry in both badge decoration abilities and a client-first attitude.”

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