Top 40 distributor Safeguard Business Systems (asi/316203) has completed its acquisition of the assets of MHC Associates, Inc. Financial terms of the deal were not disclosed. Based in Minneapolis, MHC has served clients by streamlining and managing digital and traditional marketing materials through Web-based technology.

MHC is the second Minneapolis-based company Safeguard has acquired this year. In July, the company announced the purchase of QBF, located in Plymouth, MN. QBF provides an array of print, cross media marketing, point-of-sale, apparel, and promotional products, and business and technology services to its customers. With the additions of MHC and QBF, Safeguard has now completed more than 85 transactions since 2008.

Counselor ranks Safeguard as the 32nd largest distributor in the industry, after reporting 2013 North American ad specialty sales of $43 million, a year-over-year increase of 12%.