A Richmond marketing company was recently acquired for an undisclosed amount by a larger firm based in Austin, Tex.
Venture Marketing, located at 2281 Dabney Rd. in Richmond, has been distributing branded merchandise for 15 years. Their offerings include shirts, key chains, calculators, pens, mugs, hats and golf accessories, all of which are emblazoned with company logos for corporate uniforms, events and promotions. They also manage online stores for companies to sell their merchandise.
“While the Venture Marketing client list includes many Fortune 1000 companies, our growth was limited by our current infrastructure,” Venture chief executive Ryan Andrews said in a news release.
Now the homegrown firm is an office of Boundless Networks, another promotional marketing company. The deal also adds Venture’s Milwaukee office to Boundless’s list of locations.
Boundless was ranked by the Austin Business Journal as the second-fastest growing company in central Texas, hauling in more than $10 million in annual revenue. The acquisition of Venture Marketing is the company’s third in the past six months.
Jason Black, chief executive of Boundless, said in a telephone interview that the deal was a combination of cash, stock and earn-outs. Black said he had been in talks with Andrews for about six months prior to the completion of the deal.
“Within the promotional industry, we are the new guy on the block,” Black said. “Ryan, being the entrepreneurial guy he is, called and introduced himself and established a dialogue.”
“At the end of the day, we’re applying technology to an industry that has been slow to adopt technology,” Black said. “These assets we have can really assist customers with buying and managing their promotional spend.”
Black said Boundless’s goal is to raise Venture’s $6 million in annual sales to $12 million in two or three years. Black said the company would use the Richmond office as a regional hub for future growth. Venture had 14 employees in Richmond at the time of the acquisition, and Black said all were staying with the company.
Venture’s previous clients include Pepsi, Dominic’s of New York, and Bullets, according to their old website, which is no longer active.
Prior to the addition of Richmond, Boundless had 19 offices in 11 states and one in Canada.
A Richmond marketing company was recently acquired for an undisclosed amount by a larger firm based in Austin, Tex.
Venture Marketing, located at 2281 Dabney Rd. in Richmond, has been distributing branded merchandise for 15 years. Their offerings include shirts, key chains, calculators, pens, mugs, hats and golf accessories, all of which are emblazoned with company logos for corporate uniforms, events and promotions. They also manage online stores for companies to sell their merchandise.
“While the Venture Marketing client list includes many Fortune 1000 companies, our growth was limited by our current infrastructure,” Venture chief executive Ryan Andrews said in a news release.
Now the homegrown firm is an office of Boundless Networks, another promotional marketing company. The deal also adds Venture’s Milwaukee office to Boundless’s list of locations.
Boundless was ranked by the Austin Business Journal as the second-fastest growing company in central Texas, hauling in more than $10 million in annual revenue. The acquisition of Venture Marketing is the company’s third in the past six months.
Jason Black, chief executive of Boundless, said in a telephone interview that the deal was a combination of cash, stock and earn-outs. Black said he had been in talks with Andrews for about six months prior to the completion of the deal.
“Within the promotional industry, we are the new guy on the block,” Black said. “Ryan, being the entrepreneurial guy he is, called and introduced himself and established a dialogue.”
“At the end of the day, we’re applying technology to an industry that has been slow to adopt technology,” Black said. “These assets we have can really assist customers with buying and managing their promotional spend.”
Black said Boundless’s goal is to raise Venture’s $6 million in annual sales to $12 million in two or three years. Black said the company would use the Richmond office as a regional hub for future growth. Venture had 14 employees in Richmond at the time of the acquisition, and Black said all were staying with the company.
Venture’s previous clients include Pepsi, Dominic’s of New York, and Bullets, according to their old website, which is no longer active.
Prior to the addition of Richmond, Boundless had 19 offices in 11 states and one in Canada.