MINNEAPOLIS, MINNESOTA – Quazar Capital Corporation is pleased to announce that their client, QBF, Inc., was acquired by Safeguard, a division of Shoreview, MN-based Deluxe Corporation (NYSE: DLX).
THE SELLER: QBF, Inc. – QBF (www.qbf.com) was founded in 1983 by Tom Hoerr and provides marketing products and services in the Midwest, including print, cross-media marketing, POS, apparel and promotional products, and business and technology services. QBF is a world-class print service company that provides customers with unsurpassed quality and service by taking the hassle out of business communications and reducing the cost of their procurement in the process. QBF prides themselves on providing their customers with cutting edge, cost-effective, custom-printed business products and related services. Using its EPchannel software platform, QBF provides quick turnaround and user-driven flexibility.
THE BUYER: Safeguard – Safeguard (www.safeguarddevelopment.com), a division of MN-based Deluxe Corporation (https://ww.deluxe.com), is a complete source for all types of printing needs, business apparel, branded promotional products and Web and marketing services. Safeguard’s comprehensive line of business management and marketing solutions has evolved to support the changing needs of businesses across North America.
THE TRANSACTION: Mr. Hoerr made the decision to sell QBF so he could spend more time with his family and friends. Mr. Hoerr also felt that it would be good for the Company to bring in new leadership to grow the Business.
Quazar contacted a select group of potential buyers that would be a fit for QBF. Safeguard indicated an interest early in the process and presented an offer to acquire QBF. Mr. Hoerr appreciated the fact that Safeguard was a subsidiary of MN-based Deluxe, and therefore, was known to himself, his employees, vendors, and customers.
POST-TRANSACTION PLANS: A number of QBF’s leadership team members will remain on board after the acquisition. R. Scott Sutton, Safeguard Vice President, says, “Since the QBF name is well known in the marketplace, we will implement a plan in the near-term to leverage both brands so that customers understand the pace-setting value being brought forward by both.”
QUOTES: What the parties are saying – “I am confident that QBF will be in good hands with Safeguard. I am excited to see the people that helped build the company continue to generate growth and I really felt that Safeguard was the best avenue to help them achieve that growth.” – Tom Hoerr, Former President of QBF, Inc.
“The QBF enterprise aligns with Safeguard in a great way. The company has been a leader in the Twin Cities region and Upper Midwest for years and will immediately expand our market share and footprint in this critical geography. The team at QBF is amazingly dedicated at finding innovative solutions to customer challenges. Many of the verticals QBF serves, including financial institutions and healthcare organizations, fit well with those served by the greater Safeguard organization.” – R. Scott Sutton, Safeguard Vice President
CLIENT QUOTE – “Selling the company I had owned for over 30 years was very emotional and difficult for me. Bruce took the time to find out the issues that were important to me and then professionally represented me through the sale process. I would not hesitate to recommend Bruce and his team to anyone contemplating such a transaction.” – Tom Hoerr, Former President of QBF, Inc.
ABOUT QUAZAR CAPITAL CORPORATION – Quazar Capital Corporation is an Investment Banking firm that specializes in confidentially helping privately held companies with Mergers and Acquisitions, recapitalizations, and financial advisory services.