ACCESS Newswire acquired Interwest Transfer Company, Inc. for $1.935 million cash plus 25,235 shares at closing, plus $960,000 payable in cash over three years, a transaction completed in October 2017, structured as cash and stock, with deferred cash.
Interwest Transfer Company, Inc. operates in Stock transfer / registrar services, is based in Salt Lake City, Utah, USA. Issuer Direct acquired Salt Lake City, Utah-based Interwest Transfer Company (ITC), a stock registrar and transfer agent that had operated for 56 years. The two firms had already collaborated for about a year, with Issuer Direct providing ITC's annual meeting and proxy management. The deal bolstered Issuer Direct's transfer-agent business - a segment with its longest customer retention - and added more than 300 customers.
Strengthen the transfer-agent business, where customer retention is longest and revenue per customer is highest, and cross-sell the ITC base onto Issuer Direct's platform.
Highest revenue per customer and longest retention among Issuer Direct's segments. Added 300+ customers; immediately accretive. Transfer-agent business
We have known the team at Interwest for several years, and value their passion for having a customer first commitment to each and every customer they serve. We plan to retain certain key employees of ITC, and we look forward to having their talent be a part of the family here at Issuer Direct,Brian Balbirnie, Chief Executive Officer, Issuer Direct
Advisory firms were not disclosed for this transaction.