Mergers and Acquisitions

James Imaging Systems acquires rival; Green Bay firm acquires Milwaukee Raymond James office

James Imaging Systems acquires rival firm

James Imaging Systems, a Brookfield-based provider of integrated document technologies, has acquired Grafton-based Marnett Business Center.

The transaction, which closed Nov. 26, has grown James Imaging Systems by 17 percent, said Tom Tegeder, president of the James organization.

Leon Marnett, former president of Marnett Business Center, has agreed to be a consultant with James Imaging Systems for one year.

"My father, James Tegeder, who started this company 32 years ago, and Mr. Marnett had been friendly rivals for many years," Tegeder said. "We are extremely pleased to bring the Marnette company into our organization and now look forward to serving businesses in Washington and Ozaukee counties."

James Imaging Systems, a Toshiba, KIP, Savin, and HP office equipment dealer, serves Milwaukee, Waukesha, Washington, Ozaukee, Racine, Kenosha, Jefferson and Walworth counties.  The company sells and services multifunctional copiers, fax machines and wide-format and laser printers. James Imaging also consults on print fleet management to optimize workflow and reduce costs.

With the addition of the Marnett staff members, approximately 45 employees will serve James Imaging Systems clients, working out of their offices in Brookfield.

 

Green Bay firm acquires Raymond James office in Milwaukee

Macco Financial Group, a Green Bay-based asset management and financial services firm, has acquired the downtown Milwaukee office of Raymond James Financial Services.

The Milwaukee office is located at 759 N. Milwaukee St.

Macco Financial Group also is a Raymond James Financial Services-affiliated firm.

The former principals of the Milwaukee office have retired but have been retained as consultants for a three-year period, said John Macco, president of Macco Financial Group.

"They are still available for client meetings and visits, but they are retired," he said.

The Milwaukee office has four employees, and Macco sees significant growth potential.

"We think there is a great opportunity there," he said. "They were primarily a transaction-based organization (previously). We’re moving more towards our model of helping clients accumulate wealth, manage it and pass it on in the most tax efficient model. We do more wealth management, estate planning and risk management, as opposed to just transaction-oriented business."

The transaction closed in early October, but was not announced until this week because of client notification, licensing issues and technology upgrades to the Milwaukee office.

"There was a lot of infrastructure investment that needed to be done," Macco said. "We do business in 32 states and have certified financial planners on state, which will help to enhance our service levels in Milwaukee."

Macco Financial Group is in negotiations with its landlord in Milwaukee to double the size of its office, Macco said. The Milwaukee office is inside the Colby-Abbot Building, which has previously announced plans for exterior renovations.

"We like being in downtown Milwaukee and downtown Green Bay," he said. "In the spring, we hope to double our size and enhance our exposure on the corner."

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