Date: 12 May 2008
Tel: 01926 883826
For immediate release
etrinsic merges with US-based InnerWorkings
Partnership set to accelerate expansion for UK print management and marketing services firm
Chicago-based InnerWorkings Inc. has acquired UK print management and marketing services company etrinsic for an undisclosed sum, creating what is believed to be among the world’s largest print management companies.
With targeted revenue of £225 million ($450 million) in 2008, InnerWorkings is a leading provider of managed print and promotional solutions to corporate clients in the United States. etrinsic is among the 20 largest print management firms in the UK with revenue of approximately £22 million ($44 million) and over 100 employees.
“This is an exciting partnership for etrinsic,” said etrinsic Managing Director Matt Bird, who will continue to manage the UK operations of the business. “We share similar business approaches and values and a commitment to customer service. Our partnership with InnerWorkings will strengthen our technology capabilities and enable us to accelerate our expansion plans in the UK. We are confident that our long-term knowledge and success in the mature UK print management market will benefit InnerWorkings and its customers.”
“Quality and innovation have always been our hallmarks and this partnership creates opportunities for shared business systems development, boosted scale of operations and increased price leverage. Continuity of operations in the UK will be assured with the same management team responsible for day-to-day business,” Bird continued.
“We undertook an extensive review of the UK print management market before approaching etrinsic as our preferred business partner. We are proud to have concluded an agreement with one of the most reputable and established print management companies in the UK. The synergy and mutual respect between our two firms is set to provide a strong platform for growth,” said Eric D. Belcher, President and Chief Operating Officer of InnerWorkings.
In 2007, InnerWorkings reported a revenue increase of 80 percent compared to the previous year. Its client roster embraces a wide range of industry sectors, including advertising, consumer products, publishing and retail. It provides procurement services for print, promotional products and retail packaging to over 4,500 customers.
“Our partnership with etrinsic will enable us to further support the print needs of our US-based customers that also have operations in the United Kingdom,” Belcher said.
With headquarters in Shirley, Solihull in the West Midlands. etrinsic provides a full spectrum of print management and marketing services to many of the UK’s most successful organizations, including Sainsbury’s, National Express, LV= (formerly Liverpool Victoria Friendly Society), EDF Energy, Halfords, WWF-UK, Kraft and the Chartered Institute of Purchasing and Supply. Services cover print procurement and logistics, direct mail, creative design and data management.
Left: Steven E. Zuccarini, CEO of InnerWorkings and Matt Bird, Managing Director, etrinsic.
For more information on InnerWorkings, go to www.inwk.com
For more information on etrinsic, go to www.etrinsic.co.uk
Tel: 01926 883826
Etrinsic, Davies House, Stratford Rd, Shirley, Solihull B90 4AD
Tel: 0870 4646131 www.etrinsic.co.uk
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