Mosher Buys Workflow Management

Workflow is a provider of end-to-end print solutions. It had consolidated revenues at the end of its fiscal year on April 30, 2003, of $622.76 million. It employs 2,700 people throughout the US, Canada and Puerto Rico.

Mosher's Renaissance Group LLC and Perseus LLC, a private equity firm with more than $2 billion under management, are offering $4.87 per share for the company. They also are assuming more than $150 million in debt.

"This is the most exciting deal I've ever done," Mosher tells GlobeSt.com. "I'm just on cloud nine." He says a corporate headquarters could bring 50 to 200 people to Denver.

Mosher plans to grow the revenues of the company to $1 billion a year by acquisitions and internal growth, after bringing it private. "Workflow Management is one of the leading providers of end-to- end print solutions in North America, with a strong brand name, enviable customer base and leading edge product and services offerings," Mosher says. "As a privately based company, and with a solid capita structure and a new infusion of equity, Workflow will be able to expand upon its current business platform, better serve its customers and expand into new markets. We anticipate a seamless transition of ownership, with no interruption to our relationships with customers, vendors and other business constituents." The company has 52 sales offices, 12 manufacturing facilities and 14 warehouses and distribution centers.

Tom Clark, president of the Denver Economic Development Corp., is thrilled that Mosher may bring the company to Denver, helping the struggling economy and office market. "Number one, that is a great way to grow jobs by buying companies and moving them here," Clark tells GlobeSt.com. "This is exactly the kind of thing we want to see. I'm going to see what we can do to help him make this move here."