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 Thursday, July 24, the 205th day of 2014. There are 160 days left in the year.
1864 -- 150 years ago: The Rev. R.J. Humphrey, once a clergyman in this city, was reported killed in a quarrel in New Orleans. 1889 -- 125 years ago: The Rock Island Citizens Improvement Association held a special meeting to consider the proposition of consolidating Rock Island and Moline. 1914 -- 100 years ago: The home of A. Freeman, 806 3rd Ave., was entered by a burglar while a circus parade was in progress and about $100 worth of jewelry and $5 in cash were taken. 1939 -- 75 years ago: The million dollar dredge, Rock Island, of the Rock Island district of United States engineers will be in this area this week to deepen the channel at the site of the new Rock Island-Davenport bridge. 1964 -- 50 years ago: The Argus "walked" to a 13-0 victory over American Container Corporation last night to clinch the championship of Rock Island's A Softball League at Northwest Douglas Park. 1989 -- 25 years ago: The Immediate Care Center emergency medical office at South Park Mall is moving back to United Medical Center on Sept. 1. After nearly six years in operation at the mall, Care Center employees are upset by UMC's decision. The center is used by 700 to 800 people each month.