New acquisitions for Spandex
Spandex Asia-Pacific has completed the acquisition of two highly respected suppliers to the wide format signand display industry. From November 2013 both businesses became Spandex Group companies, trading under their own names for the next 12-18 months while full integration takes place.
Plas Image, a distributor of rigid materials and digital media based in Sydney’s Northern Beaches, was established by Stan Vidaic in 2000 and was soon joined by Ed Oleksyn as a partner. Under their stewardship, Plas Image has grown to become a major supplier of top-brand rigid and digital roll media.
Qualsign, a distributor of aluminium composite sheets, cut vinyl and digital media based in Perth, Western Australia was established by Merv Hopkins in 1995 and has an existing relationship with Spandex as a reseller of Arlon and Avery signage materials.
Alex McClelland, Managing Director and Vice President of Spandex Asia-Pacific commented: “Real quality opportunities for acquisition do not come along that often and we were fortunate to find two this year that offered expansion into new product areas and adjacent markets. The addition of highly experienced industry people is another positive as we begin the task of integration. While there are some inevitable parallels in our customer bases, for the main part, Plas Image and Qualsign bring new products that Spandex did not previously offer. We are delighted with these acquisitions and welcome staff and customers alike into the Spandex family.”
He added: “These acquisitions are just part of our mid to long term strategy and we will continue to look for suitable acquisitions that will further enhance our position in the market.”
In order to minimize the inconvenience to customers, both businesses will initially continue as normal while the tasks of synchronizing SKU codes, MIS systems, logistics, premises and staff are addressed.
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