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 Wednesday, April 16, the 106th day of 2014. There are 259 days left in the year. 1864 -- 150 years ago: Yesterday some bold thief stole a full bolt of calico from a box in front of Wadsworth's store, where it was on exhibition. 1889 -- 125 years ago: A team belonging to Peter Priese got away from its driver and made a mad run across the Rock Island Bridge. The driver was thrown from his seat but not hurt. 1914 -- 100 years ago: Carlton Taylor was appointed district deputy grand master for the 14th Masonic District of Illinois. 1939 -- 75 years ago: Moline's million dollar municipal airport was dedicated to air transportation and the national defense by Lt. Gov. John Stelle. 1964 -- 50 years ago: THE ARGUS will be election headquarters for Rock Island County tomorrow night, and the public is invited to watch the operation. The closing of the polls at 6 p.m. will mark the start of open house in the newsroom. Visitors will see staff members receiving, tabulating and posting returns. 1989 -- 25 years ago: Few bricks actually tumbled, but no one seemed to mind as about 1,000 people gathered to celebrate the formal start of demolition at the site of a downtown civic center.