Distributor NewClients Promotional Marketing (UPIC: clients), headquartered in Richmond, Virginia, has acquired VATEX America, Inc. (UPIC: vatex), also in Richmond, in an all-cash transaction. NewClients will retain VATEX’s current sales, account management and operations teams, including its embroidery operation. VATEX associates will move into NewClients’ corporate headquarters immediately.
Teki Hall, NewClients president and CEO, says: “The acquisition of VATEX falls perfectly into our business plan of strengthening our regional and national exposure. VATEX brings an exceptional sales team with many years of experience, along with a strong diversified client list. The company has a long established history of representing some of the country’s largest brands and we are excited to have them join the NewClients family.”
Ben Kutner, VATEX President, added, “NewClients aligns perfectly with our core values. They have a long established reputation similar to VATEX, built on providing excellent service to their clients. There is also a common thread in the team atmosphere in which both companies operate. As opposed to many promotional product distributors and franchise companies that allow their sales people to compete amongst one another, NewClients and VATEX offer named accounts and industries. With my pending retirement, the timing was right to partner with a larger entity and NewClients was the perfect choice because of their management and operational expertise.”