Microcap Standard Register (SR +233.3%) skyrockets after announcing (along with its Q2 results) it's acquiring fellow printing/document management services firm WorkflowOne for $218M. Both firms are based in Dayton, OH. (PR)
Standard, which still only has a market cap of $53M, is assuming $210M in long-term debt and issuing $8M worth of warrants. The company has obtained a new 5-year, $125M credit facility in tandem with the deal
The combined company is expected to have $1B/year in revenue and achieve $40M/year in cost savings.
Standard asserts WorkflowOne's multi-industry printing, document management, and marketing services will complement its own offerings, many of which are healthcare-focused.