Minneapolis, Feb 12 — Today, Deluxe (NYSE:DLX), a Trusted Payments and Data company, announced that it has agreed to the sale of its Safeguard business and network of distributors, offering printed and other promotional solutions offerings, to Proforma, a proven leader in the printing and promotional industry. The transaction is expected to close in the coming weeks, subject to the satisfaction of customary closing conditions.
For more than 60 years, Safeguard, through its network of distributors, has been providing printed and other promotional products, services, and expertise to business owners to help their businesses grow. Through innovation, dedication and a commitment to quality and integrity, Safeguard provides its customers with smart, scalable, promotional solutions that help them both run and grow their business.
“We are proud of the Safeguard team and the trusted brand they’ve built across the promotional solutions space, and this legacy will remain in good hands with Proforma,” said Tracey Engelhardt, President of Print for Deluxe. “This deal is truly a win-win. We will continue to provide checks and other printed offerings to Proforma and its distributors on an ongoing basis, further ensuring a smooth transition for our customers. This will help accelerate our revenue mix shift towards our Payments and Data businesses, a key strategic priority.”
“The opportunity to join Proforma and Safeguard is more than a business transaction,” said Michael Roney, Chief Strategy Officer at Proforma. “We’re bringing together two networks of talented people who share a commitment to innovation and values. This venture positions our network for sustainable growth while preserving the culture and integrity that have defined Proforma for generations.”