Pyramid Display Materials acquired by US distributor
Tuesday, October 5, 2021
Wide-format trade supplier Pyramid Display Materials has been acquired by US-based signage and display materials distributor Grimco Inc.
Established in 1875, Grimco operates from over 60 locations in the US, Canada, and now the UK following the completion of this deal, which was announced on Friday (1 October).
Pyramid Display managing director Dennis Morgan said: “This is an exciting announcement for us that we believe will yield important benefits for all our staff, customers and suppliers, whilst ensuring the development of our business and relationships.
“Pyramid Display will operate as a standalone company in the Grimco portfolio and will retain the Pyramid Display name and brand. It will continue to be run by the same experienced management team that is in place today and remain headquartered in Manchester.”
The company said that long-term it believes the deal will “accelerate our ability to seize on industry growth opportunities and deliver continued product innovation and consistent, reliable operational performance”.
It continues to be business as usual at Pyramid Display and it said its customers should not expect any changes in their partnership with the company, with contacts in sales, buying, distribution, and accounts all remaining the same.
Manchester-headquartered Pyramid Display, which also has branches in Newcastle upon Tyne, Castleford, and Birmingham supplies wide-format materials including vinyl, laminates, and banner material to the trade.
In 2019 the business acquired the assets, stock and goodwill of Wakefield, Yorkshire-based plastic substrates distributor and fabrication house POS Plastics.
In its most recently filed accounts at Companies House, for the year ended 30 June 2021, Pyramid Display recorded sales of £39.4m, down slightly from the £40.8m it achieved in the previous year, and employed 110 staff.