Wise Business Forms Acquires Certain Assets of EPX Group of Portland
Press release from the issuing company
Transaction Expands Wise's Geographic Reach into New England and Enhances Manufacturing Capabilities and Product Offering
ATLANTA, GA, August 8, 2002 - Wise Business Forms, Inc., a leading independent manufacturer of business forms and related products and services, announced that it had acquired EPX Group. Terms of the transaction were not disclosed.
The Portland, ME operation of EPX will be integrated into Wise's growing network of manufacturing facilities and, as is the case with existing plants, operate autonomously with corporate and administrative support. EPX's operations will remain intact and its customers will continue to receive the same quality products and services. The acquisition increases Wise's revenues to over $65 million and enhances the company's product offering and strengthens its foothold in the Northeast.
EPX's decision to sell developed out of EPX's desire to expand its new product offering to a larger geographic area. Robert E. Willis, President, states, "I started this process as a strategic alliance with Wise and it became apparent that with Wise's growth strategy, customer and industry reputation, high quality service and distributor sales coverage, that it made sense to pursue this transaction. I feel strongly that our companies' philosophies are virtually identical and recognize the enhanced opportunities that this sale would provide to EPX's and Wise's customers, employees and vendors.
"As Wise evaluates avenues of growth, acquisitions continue to play an important role in expanding our customer reach and scope of products and services." said Bill Prettyman, Chairman and CEO. "The acquisition of EPX provides us with a market leading position in New England in laser cut sheet and forms production, as well as synergistic opportunities in new product areas such as digital printing, commercial printing and warehouse -distribution services, EPX's customers will benefit from the added capabilities of Wise including enhanced short-run manufacturing capabilities, e-commerce solutions and operations that span the entire Eastern U.S."
Bill Prettyman added, "EPX is the premier business forms manufacturer in New England. With the strong base of customer relationships that EPX has developed over the past sixty years, Wise is committed to capitalizing on the strong prospects of this well run, highly respected operation."
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.