Standard Register (NYSE: SR) has acquired WorkflowOne in a deal valued at $218 million.
WorkflowOne provides printing, document management, distribution and marketing services.
The buyer provides communication and marketing services to health care and commercial organizations.
Both companies are headquartered in Dayton, Ohio. Standard expects the deal to enhance services and broaden its customer base.
Standard assumed $210 million in long-term debt and issued warrants valued at about $8 million.
In connection with the deal, Standard has renewed and expanded its credit facility. The company has a five-year $125 million senior-secured asset-based credit facility, which is an amendment to a facility scheduled to mature on March 31, 2014. Bank of American NA was the lead arranger for the loan.
Fried Frank partners Christopher Ewan, David Shaw and F. William Reindel acted as legal counsel to WorkflowOne for the deal.