In a move to expand its reach to the Detroit market, St. Cloud-based printer, copier and IT services provider Marco has acquired Governor Business Solutions, a copy and print business headquartered in Dearborn, Michigan.
Terms of the transaction were not disclosed.
Prior to the deal, Marco did not have offices in Michigan. The company’s 48 offices had been concentrated in the Midwest between Rapid City, South Dakota and Green Bay, Wisconsin.
“Our acquisition strategy is to buy similar companies in locations where Marco doesn’t already have a presence,” Marco chief executive Jeff Gau said in a statement. “Governor was a perfect fit with their excellent reputation and long-term customer relationships in the Michigan market.”
Governor Business Solutions’ headquarters are located about 10 miles outside of Detroit. The Michigan company’s staff of 40 will be joining Marco, adding to its workforce of salespeople, service technicians and administrative staff.
Marco currently has a staff of 1,160 employees that help serve its more than 32,000 customers across the Midwest and in other states.
“Our business cultures are very similar, and we are extremely excited about the future growth opportunities in Michigan with this investment from Marco,” said Governor Business Solutions president Bill Cullinan in prepared remarks. “We are excited to join the Marco team.”
Year-over-year, Marco has grown by about 20 percent, Gau told the St. Cloud Times. About half of that growth rate is attributable to the company performing between five to seven acquisitions annually, many of which are in the copier and printer market, Gau said.
Notably, Marco’s acquisition of Governor Business Solutions marks its 11th acquisition completed over the past two years.
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