HDS Acquires Stuart & Associates
Today, HDS, a Pittsburgh-based promotional merchandise and corporate apparel agency, announced that it has acquired Stuart & Associates, a Cleveland-based printing, promotional products and fulfillment services company.
HDS did not release the financial terms of the deal, but the company estimates that the acquisition will drive HDS' annual sales to $32 million in annual revenue.
"We've been down the acquisition road a few times and this one seemed like the right fit from the beginning," Craig McAllester, president and owner of Stuart & Associates, said in a press release. "I wanted to align Stuart & Associates with a company that has the same core values as our employees, and one that could give our company the tools to service our clients well into the future."
HDS now will be able to offer its client base printing services and more fulfillment locations in Cleveland and Columbus, Ohio.
“Our acquisition of Stuart & Associates complements our goals of expanding into new markets, and adding printing & paper collateral services," said Howard Schwartz, CEO and founder of HDS. "This is just one more step toward becoming a vertically integrated company that meets the demand for consolidation in today’s business climate. Many of our clients that purchase promotional products also purchase print marketing.
“This adds to our repertoire of services that include promotional merchandise, corporate apparel, embroidery, screen printing and direct importing that we currently offer," he continued. "We are truly a one-stop-shop that will continue to assist our clients with achieving all of their branding goals."