The trans-Tasman print giant, GEON Group says it has completed its acquisition of Sydney-based Promentum, in a transaction valued at A$127m.
The acquisition, which is a significant milestone in the consolidation of the trans-Tasman print and print services industry, brings GEON Group’s revenues to A$400m with more than 1500 employees located throughout Australia.
Gordon Towell, GEON Group chief executive, says the Promentum business was an excellent fit with GEON’s existing operations and would strengthen the Group’s position and broaden its services in the trans-Tasman print market.
“This acquisition is a key step in our strategy of dramatically modernising and enhancing the way we provide services to our customers on both sides of the Tasman,” he says.
“Promentum’s expertise and extensive customer base within the medium-to-large enterprise space complements GEON’s established stronghold among independent printing, media, and publishing businesses, as well as within the SME market.
“We believe the combined business brings together some of the best people in the industry and gives us the capacity and flexibility to provide an enhanced range of services to our customers.
