Safeguard Business Systems Successfully Completes the Divestiture of Five Mid-Atlantic Region Businesses

October 01, 2018

Strategic Sale Quadruples Size of Business for Existing Boston-based Distributor

DALLAS, TX – Safeguard Business Systems, the provider of products, services and expertise designed to help businesses across North America grow, has completed the sale of five Safeguard-owned businesses to Boston, Massachusetts-based distributor Michael Banchi.

Banchi started his career in payroll services, working for a variety of national corporations including ADP, Paychex and PNC. After deciding to go off on his own to consult for a few years, Banchi was approached by Safeguard with an opportunity to help launch the brand’s payroll division on the East Coast. Since then, he has held various positions within the Safeguard network over his nearly 25-year career with the brand, including “franchisee” when he purchased an existing distributorship in Boston in 1994. Most recently, the Safeguard team approached Banchi with an opportunity to more than quadruple his existing business with the purchase of five businesses across the mid-Atlantic region.

“Because I’ve worked with Safeguard for more than two decades, I have built a great relationship with the corporate team. I had made it known that if any new bases of business became available in my region that I would be interested in discussing a potential purchase,” said Banchi. “When I was presented with this opportunity by Safeguard’s Business Mergers and Acquisitions team, the decision to grow my business made sense.”

Through this purchase, Banchi’s distributorship now covers Eastern Maryland, Southern New Jersey and three territories across Pennsylvania. But even with this regional growth, Banchi and his five employees aim to continue offering customers localized service.

“I’ve been in the area since 1994, so I understand how important quality service is to Safeguard customers,” said Banchi. “It’s vital to have boots on the ground, to be able to have a local presence and make a face-to-face connection with the people that we’re servicing. That’s been a big key to our existing success, because it’s driven referrals for us, and it’s what will continue driving our success in the future.”

The acquisition was completed through Safeguard’s Business Acquisitions & Mergers (BAM) Team.

With more than 100 years of collective experience in franchising, mergers, acquisitions and divestitures, the BAM Team has completed more than 175 strategic transactions since 2008. For its work in helping drive company and distributor growth through the completion of strategic transactions, the BAM team was honored with a Stevie® Award for “Best Support Team” of 2017 and by the M&A Advisors as the “Strategic Corporation of the Year” in 2018. In 2014 and 2018, the Safeguard BAM team was also recognized as a “Dealmaker of the Year” award winner by Franchise Times® magazine.

“Helping distributors who have already seen success under the Safeguard model to grow is always very rewarding for our team,” said R. Scott Sutton, Vice President of Franchise Development at Safeguard. “Mike has been a member of the Safeguard family for decades and has helped build the reputation of the brand on the East Coast. We look forward to seeing what he’s able to accomplish through this expansion.”

ABOUT SAFEGUARD

For more than 60 years, Safeguard, through its network of distributors, has been providing the products, services and expertise needed by business owners to help their businesses grow. Through innovation, dedication and a commitment to quality and integrity, Safeguard has transformed itself from a small check printing business to a fully diversified business solutions enterprise. To learn more about Safeguard, please visit www.gosafeguard.com, or follow us on Twitter at www.twitter.com/gosafeguard.

ABOUT SAFEGUARD BAM

Since 2008, Safeguard’s award-winning Business Acquisitions and Mergers (BAM) Team has emerged as the most decorated strategic growth team in the industry. With more than 100 years of collective experience in mergers, acquisitions, divestitures, business strategy and financial performance assessment, the BAM Team possesses the “know how” needed by Safeguard, its affiliates, distributors and franchisees to complete complex transactions across multiple business channels. The BAM team has completed more than 150 total transactions since its inception, earning accolades at the highest levels. In 2018, the BAM team won a second coveted Dealmaker of the Year award, presented by Franchise Times® Magazine, after first winning the award in 2014.In 2017, the BAM team won an M&A Advisors Deal of the Year award in the Professional Services (B-to-B) category as well as a bronze Stevie® American Business Award as Support Team of the Year. In 2018 Safeguard won another M&A Advisors award as Strategic Corporation of the Year for its mergers and acquisition work.  To learn more about the BAM Team, please visit safeguardbam.com, or follow us on Twitter at www.twitter.com/safeguardgrowth.

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