Olympus Flag and Banner, a Milwaukee-based custom printer and manufacturer of flags and mascot costumes, has acquired Ross & Associates, a Grand Rapids, Mich.-based design and marketing firm that specializes in point-of-purchase displays.
Olympus has been a long-term supplier of Ross & Associates, said Brian Adam, vice president of sales and marketing at the Milwaukee-based firm.
"We’re in similar markets and sell to the same customers," he said. "That’s why we did the deal – we can now be a source for them and they can fill some of our manufacturing capacity."
Olympus expects to fulfill about 40 percent of Ross & Associates’ orders. The remaining work will continue to be subcontracted, Adam said.
Olympus has about 110 employees. Its headquarters and manufacturing operations are in Milwaukee, with sales offices in San Diego, Orlando, southern Florida and Oklahoma City. Ross & Associates has 10 employees.
Olympus will see about 5-percent revenue growth this year, Adam said. The company is seeking both organic growth and growth through additional acquisitions. Although present economic conditions have caused some markets to tighten, they are also making additional acquisitions more favorable.
"We’re working on some right now, and are hoping to have one more by the end of the year," Adam said.
Financial terms of the acquisition were not disclosed.
