Harland Acquires DocuPrint, Strengthens Forms Business
Press release from the issuing company
ATLANTA, Oct. 30 -- John H. Harland Company, one of the leading financial transaction companies in the country, has strengthened its position as a provider of internal bank forms with the acquisition of the assets of DocuPrint, Inc.
Based in Milton, Washington, DocuPrint produces forms for major financial institutions. Its primary distribution is through a strong dealer network.
"We're excited by the opportunity to strengthen our forms business,'' said David Passman, president of Harland Printed Products. "The acquisition of DocuPrint enables us to do that while also enhancing our production capabilities for our check business in the Northwest.
The all-cash deal, which was less than $1 million, will be immediately accretive to earnings.
To maximize the efficiency of its forms operations, Harland is moving most of DocuPrint's forms business to Salt Lake City and Columbia, South Carolina. The company will relocate production from its Portland, Oregon facility to DocuPrint's facility in Milton. The relocation, which includes equipping 100% of the Milton facility with digital printers, is expected to be completed by the end of the year.
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