Midland print management and marketing services firm Etrinsic has been acquired by US-based InnerWorkings Partnership for an undisclosed sum.
The merger creates one of the world’s largest print management companies.
With targeted revenue of £225 million in 2008, Chicago-based InnerWorkings is a provider of print and promotional products.
Based in Shirley, Etrinsic is among the 20 largest print management firms in the UK with revenue of £22 million and more than 100 employees.
Etrinsic managing director Matt Bird, who will continue to manage UK operations, said: "This is an exciting partnership for Etrinsic. We share similar business approaches and values and a commitment to customer service. Our partnership with InnerWorkings will strengthen our technology capabilities and enable us to accelerate expansion plans.
"We are confident our long-term knowledge and success in the mature UK print management market will benefit InnerWorkings and its customers."
The merger creates opportunities for the development of shared business systems, a boost to the scale of operations and increased price leverage.
"Continuity of operations in the UK will be assured with the same management team responsible," added Mr Bird.
President and chief operating officer for InnerWorkings, Eric Belcher, said his company scrutinised Etrinsic for some time. "We are proud to have concluded an agreement with one of the most reputable and established print management companies in the UK," he said. "The synergy and mutual respect between our two firms is set to provide a strong platform for growth."
In 2007, InnerWorkings reported a revenue increase of 80 per cent. Its client roster embraces a wide range of industry sectors, including advertising, consumer products, publishing and retail.
It provides procurement services for print, promotional products and retail packaging to 4,500 customers.
"Our partnership with Etrinsic will enable us to further support the print needs of our US-based customers that also have operations in the UK," added Mr Belcher. Etrinsic clients include Sainsbury’s, National Express, EDF Energy, Halfords and WWF-UK. , Kraft and the Chartered Institute of Purchasing and Supply.
Services include print procurement and logistics, direct mail, creative design and data management.