Deluxe (NYSE:DLX), a Payments and Data company, has reached an agreement to sell its Safeguard business and its network of distributors to Proforma, a leader in the printing and promotional industry. The transaction is anticipated to conclude in the coming weeks, pending the fulfillment of standard closing conditions.
For over six decades, Safeguard has operated through its distributor network, providing printed and other promotional products, services, and expertise to business owners. The company focuses on delivering scalable promotional solutions designed to support business growth and operational efficiency.
Tracey Engelhardt, President of Print for Deluxe, commented on the sale, stating, “We are proud of the Safeguard team and the trusted brand they’ve built across the promotional solutions space, and this legacy will remain in good hands with Proforma.” She added that the deal is a “win-win,” as Deluxe will continue to supply checks and other printed offerings to Proforma and its distributors, ensuring a smooth customer transition. This move aligns with Deluxe’s strategic priority to accelerate its revenue mix shift toward its Payments and Data businesses.
Michael Roney, Chief Strategy Officer at Proforma, remarked, “The opportunity to join Proforma and Safeguard is more than a business transaction. We’re bringing together two networks of talented people who share a commitment to innovation and values.” He further noted that the venture is expected to position Proforma’s network for sustainable growth while preserving the culture and integrity that have defined the company for generations.
Deluxe, a company with over 100 years of operation, offers solutions that assist businesses in managing payments, receiving payments, and fostering growth. It supports millions of small businesses, financial institutions, and consumer brands, processing over $2 trillion in annual payment volume. Proforma, with nearly 50 years of experience, specializes in printing, promotional products, packaging, and eCommerce solutions, and has invested more than $50 million in technology.
