Miami Computer Supply Corporation Announces Closing of Definitive Agreement with Minnesota Western/Creative Office Products, Inc.
DAYTON, Ohio, Jan. 20 /PRNewswire/ -- Miami Computer Supply Corporation (Nasdaq: MCSC), a leading supplier of computer supplies and projection presentation products, today announced that it has closed the definitive merger agreement with Minnesota Western/Creative Office Products, Inc. a $55.0 million (annual revenues) distributor of visual presentation systems and products. Headquartered in Berkeley, California, Minnesota Western/Creative Office Products, Inc. has twelve California offices in addition to locations in Seattle, Washington and Portland, Oregon.
Michael E. Peppel, President and Chief Executive Officer of Miami Computer Supply said, "The combination of Miami Computer Supply with Minnesota Western confirms that we have the ability to deliver large transactions that are EPS accretive. The expertise of Clark Gilson, Ruy Pereira and Larry Goodman in the presentation products channel will accelerate our company's growth in the presentation products marketplace."
"Combining forces with Miami Computer Supply will allow Minnesota Western to position itself for rapid growth in this evolving marketplace," added Clark Gilson, President of Minnesota Western.
Miami Computer Supply Corporation went public last November. Since the IPO, Miami Computer Supply has increased the number of its sales offices from 20 to 63 and its annual sales from $63 million as of December 31, 1996 to the proforma annualized 12 month run rate of over $217 million. |
