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December 17, 2024

Counselor Best Place To Work ScreenBroidery Acquires Graphicon Inc.

The deal involves two Indiana-based promotional products distributors and marks the start of an aggressive M&A strategy from ScreenBroidery, executives said.

By  Christopher Ruvo

Key Takeaways

• Indiana M&A: Indiana-based ScreenBroidery (asi/305623) acquired fellow Hoosier State distributor Graphicon (asi/212902). Combined, the companies will do nearly $14 million in 2024 revenue.

• Aggressive Dealmaking Ahead: The acquisition marks ScreenBroidery’s new M&A growth strategy, which centers on making six to seven acquisitions in five years.

• Moving Forward: Graphicon is fully integrating into ScreenBroidery.

Promo M&A is underway in the Hoosier State.

Noblesville, IN-headquartered promo distributor ScreenBroidery (asi/305623), a 2024 Counselor Best Place To Work, announced today that it has acquired Graphicon Inc. (asi/212902), an Indianapolis-based promo distributorship.

Financial terms of the deal were not released, but executives shared with ASI Media that, combined, the companies are on track to generate nearly $14 million in 2024 revenue.

Tom Rector, ScreenBroidery (asi/305623); Tim Sito, Graphicon (asi/212902)

Moreover, ScreenBroidery CEO Tom Rector said the acquisition signals the start of a new strategic focus for the 16-year-old company – namely, growth through M&A.

“We are aiming for 20% or more year-over-year growth, and we’re actively seeking new acquisition opportunities across the industry,” said Rector. “Our goal is to acquire between six to seven companies in the next five years.”

Graphicon has been in business since 1996. The company will continue operations under the ScreenBroidery umbrella, fully integrating into the parent firm’s platform by Jan. 1, 2025. Tim Sito, founder and president of Graphicon since its inception, is coming aboard at ScreenBroidery to lead a team of account managers.

Sito said ScreenBroidery’s technology stack, on-demand production processes and logistics solutions were part of the appeal of partnering with the company – but that’s not all. “ScreenBroidery offers incredible growth opportunities for our team and our clients,” Sito said. “Our cultures and mindsets are aligned in striving for excellence and delivering unforgettable customer experiences.”

Rector said: “We are excited to welcome Tim and the entire Graphicon team into the ScreenBroidery family. I’ve known Tim for many years – both of us being proud Ball State University alumni. When Tim mentioned he was ready for the next chapter, I immediately saw the alignment in our values and vision. His customer-focused mindset and expertise in qualifying-based selling are a perfect fit for ScreenBroidery’s approach.”

Blockbuster acquisitions involving Counselor Top 40 firms, international business purchases and a flurry of smaller domestic deals have made 2024 arguably the most momentous year ever for M&A in the promotional products industry.