Standard Register Acquires WorkflowOne
"Standard Register has a defined, demand-based strategy that embraces the changes taking place within the printing industry. By embracing the changes, we have been able to identify new technology-enabled solutions that are growing in the marketplace and build a strategic roadmap of investments that will position us for continued success. Standard Register and WorkflowOne have a combined heritage in printing, document management and communications that is enhanced through this acquisition. We have identified many synergies in this part of the business, including simplifying processes, leveraging engineering expertise, optimizing the supply chain and improving overall capacity utilization. The cash flow from this large manufacturing network will be a source for fueling future growth," Morgan continued. "We have a keen understanding of the trends taking place in our combined key market segments of healthcare, financial services, manufacturing and retail, and are continuing to develop innovative solutions in marketing communications, customer communications, product marketing and labeling, patient identification and safety and patient information."
"We have engaged AlixPartners to help us with integration planning and synergy alignment. They provided valuable counsel for our strategic restructuring and have a deep understanding of our company and markets," Morgan said.
In addition to creating one of the largest printing and print management companies in North America, the combination:
- Increases customer diversification and penetration in strategic markets with more than 12,000 customers
- Serves most of the nation's largest bank holding companies and financial services companies
- Creates a $300 million health care patient-centric communications business
- Establishes Standard Register among the top 10 label manufacturers in North America, and
- Adds a top 10 promotional products business
"By joining forces with Standard Register, we will be able to provide our customers with deeper capabilities across a broader range of products and services than ever before," said Tatman. "I am very excited about the future of our combined companies."