Sydney-based Plas Image and Perth-based Qualsign, both of which will continue to trade under their own names for the next 12-18 months, became Spandex group companies at the beginning of this month.
Plas Image, which was founded in 2000 by Stan Vidaic, is a distributor of rigid materials and digital roll media.
Qualsign, established by Merv Hopkins in 1995, is a distributor of aluminium composite sheets, cut vinyl and digital media and had an existing relationship with Spandex as a reseller of Arlon and Avery signage materials.
Alex McClelland, managing director and vice president of Spandex Asia-Pacific, said: “In today’s business environment, we cannot stand still; the status quo is not an option. Real quality opportunities for acquisition do not come along that often and we were fortunate to find two this year that offered expansion into new product areas and adjacent markets.
“The addition of highly experienced industry people is another positive as we begin the task of integration. While there are some inevitable parallels in our customer bases, for the main part, Plas Image and Qualsign bring new products that Spandex did not previously offer. We are delighted with these acquisitions and welcome staff and customers alike into the Spandex family.”
McClelland added that Spandex would continue to look for suitable acquisitions to “further enhance our position in the market”.