Deluxe Corporation Agrees to Sell Safeguard Business to Proforma

Deal signals company’s continued focus on Payments and Data

MINNEAPOLIS--(BUSINESS WIRE)--Today, Deluxe (NYSE:DLX), a Trusted Payments and Data company, announced that it has agreed to the sale of its Safeguard business and network of distributors, offering printed and other promotional solutions offerings, to Proforma, a proven leader in the printing and promotional industry. The transaction is expected to close in the coming weeks, subject to the satisfaction of customary closing conditions.

For more than 60 years, Safeguard, through its network of distributors, has been providing printed and other promotional products, services, and expertise to business owners to help their businesses grow. Through innovation, dedication and a commitment to quality and integrity, Safeguard provides its customers with smart, scalable, promotional solutions that help them both run and grow their business.

“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,” said Tracey Engelhardt, President of Print for Deluxe. “This deal is truly a win-win. We will continue to provide checks and other printed offerings to Proforma and its distributors on an ongoing basis, further ensuring a smooth transition for our customers. This will help accelerate our revenue mix shift towards our Payments and Data businesses, a key strategic priority.”

“The opportunity to join Proforma and Safeguard is more than a business transaction,” said Michael Roney, Chief Strategy Officer at Proforma. “We’re bringing together two networks of talented people who share a commitment to innovation and values. This venture positions our network for sustainable growth while preserving the culture and integrity that have defined Proforma for generations.”

About Deluxe

Deluxe, a trusted Payments and Data company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than $2 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers’ most trusted business partner. To learn how we can help your business, visit us at www.deluxe.com.

About Proforma

With nearly 50 years of experience, Proforma is the technology and business success leader in printing, promotional products, packaging, and eCommerce solutions. Proforma’s investment of more than $50 million in technology reinforces its presence as an industry leader and supports its mission to empower Distributor Owner success. To date, over 140 Distributor Owners have earned spots on the Inc. 5000 list of the fastest-growing private companies, with many accomplishing recurring recognition. More than 300 Distributor Owners have achieved membership in Proforma's Million and Multi-Million Dollar Club, earning annual sales ranging from $1 million to nearly $50 million. To join the Proforma Family, visit OnlyProforma.com. To learn more about our products and services, visit Proforma.com.