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, March 9, the 68th day of 2014. There are 297 days left in the year. 1864 -- 150 years ago: Much damage is being done to sidewalks, shade trees, fences and gardens by hogs that are running at large about town. 1889 -- 125 years ago: H.C. Cleveland was elected air knight captain of Rock Island Division Uniform Rank Knights of Pythias. 1914 -- 100 years ago: B.W. Wilson, authority on birds and their habits, spoke at the weekly luncheon at the Rock Island Club. 1939 -- 75 years ago: The famous Dionne quintuplets have been invited to visit King George and Queen Elizabeth in Toronto on May 22, but Papa Dionne thinks their majesties should include the Callander nursery in their tour. 1964 -- 50 years ago: Ever been smothered by funny stuff? Well more than 2,600 people were last night when two boys named Tom and Dick Smothers took a "rocky, twisting road to folk music" in Davenport Masonic Temple. 1989 -- 25 years ago: Moline residents soon may be asked to recycle part of their garbage and might even get paid for it.