Elanders, a Swedish company has acquired Davenport-based Midland Information Resources.
The purchase is a continuation of Elanders' international expansion and will extend the company's presence in the world's largest graphic market, the U.S., according to a news release on elanders.com.
"I am truly excited that Midland Information Resources will become part of the Elanders family," Tom Sheehan, Midland president, said in the release. "We have been business partners for many years, and Elanders has proven to be a valuable resource in helping us create global solutions for our clients.
"As part of the Elanders team, I look forward to growing our presence in the Americas and to capitalize on the synergies of these two strong organizations," Mr. Sheehan said.
Midland, based at 5440 Corporate Park Drive, Davenport, was founded in 1982 by CEO Gene Blanc, of Moline, and is a leader in global print management, with solutions for content management services, just-in-time-deliveries in digital print, as well as fulfillment and distribution. Among its clients are several Fortune 500 companies which Midland serves with global deliveries.
Net sales of Midland in 2012 were $29 million and the company has about 180 employees. Elanders has been in business in the U.S. since 2008 and the acquisition will expand its presence in the North American market.
The global printing group has production units in 10 countries (including the U.S.) on four continents, and 1,600 employees.
No staff changes at Midland are expected with the deal, company spokesman Jon Blanc said Wednesday. Midland will continue to be run under its current name and management.
"The acquisition of Midland provides us with a strong local customer base and bolsters our offer to existing customers with operations in the U.S.," Magnus Nilsson, Elanders' president and CEO, said in the release.
"Midland's innovative solutions for global print management supplement Elanders' offer to large international companies, which is in line with our strategy to be a global supplier to global clients that need local deliveries in different parts of the world."
Mr. Nilsson was in the Quad-Cities this week to meet with Midland employees, Mr. Blanc said.
By acquiring Midland, Elanders gains access to both innovative solutions and advanced techniques in digital print as well as "a robust customer base where more than 50 percent of the company's net sales come from Fortune 500 companies," the company said.
The combination of Midland and Elanders "not only opens up further expansion on the North American market but entails greater global expansion in common customer segments as well," the release said.
Today is Sunday, April 20, the 110th day of 2014. There are 255 days left in the year.
1864 -- 150 years ago: The attention of contractors is called to proposals for building a magazine. The building is to be erected on the south side of the island, above the railroad, nearly opposite Sinnit's ice houses. 1889 -- 125 years ago: Ladies patent leather tip shoes were selling for $3 at the M & K store, and men's spring overcoats were advertised at $7.50. 1914 -- 100 years ago: Fred Feuchter, of Davenport, was elected president of the Tri-City Post Office Clerks club, and Joe Goldsmith, of Rock Island, was named secretary treasurer. 1939 -- 75 years ago: Mass vaccination of more than 1,600 employed of the Rock Island Arsenal has been ordered by Col. Norman Ramsey after a 13-year-old daughter of the Arsenal manager became ill with smallpox. 1964 -- 50 years ago: The 1964 Scout-O-Rama of the Sac-Fox Council of Boy Scouts closed a two-day session last evening at the Rock Island Armory with 5,000 paid attendance. 1989 -- 25 years ago: "From the horse and buggy days ... to this" said Mercer County Sheriff Marvin Thirtyacre, waving his hand to indicate the sheriff's department facilities at the new $1.5 million Mercer County Jail in Aledo.