IdentiSys buys twice in July
EDEN PRAIRIE, Minn.--Identisys, a identification solutions integrator based here, in July announced the acquisitions of 4Site Systems, a custom graphics firm, and Gebco, an integrator of identification, tracking and security products. Though terms of neither deal were released, the activity is an outgrowth of newly installed president Debra Ferril's goal of growing the company far beyond the company's $17.5 million in 2006 sales.
Steve Martin, 4Site's previous owner, will leave the company, but the company's long-time sales manager will remain with IdentiSys. "We were looking at hiring the right people" to go after more printing sales, Ferril said, "but then this opportunity came up and you've got the experience and knowledge of the market that comes with one salesperson with 20 years in the industry, and there's even a revenue stream."
Similarly, the owners of Gebco have left the company, and David Richvalsky has been hired as vice president and general manager for Gebco of Hawaii, which will retain its name and brand as a division of IdentiSys. Ferril said Gebco was the leading supplier in the Hawaiian Islands for binding, lamination and photo ID systems.
Both acquisitions are indicative of Ferril's desire to open more markets for IdentiSys beyond security applications for identification. "K-12 is a huge market for us," she said, by way of example, "for security and ID, and once you get into that, lots of requirements for other things come up," like large document printing or promotional cards for school events. "If we're a vendor who's a proven supplier, they'd just as soon work through us," Ferril said. With 4Site, IdentiSys can do much more for its customers, she said, "and we have another opportunity for an acquisition that we're working on that will take us further into this. If it pans out, there would be a lot of synergy between what we're doing with 4Site. Sometimes things are just fortuitous."