iPROMOTEu (PPAI 218870, Platinum) – the No. 11 distributor in the PPAI 100 – has announced the acquisition of AIA Corporation (PPAI 101364, Platinum) – the No. 18 distributor in the PPAI 100.
- Moving forward, Appleton, Wisconsin-based AIA will operate as a division of iPROMOTEu, headquartered in Wayland, Massachusetts.
- As part of the transition, both companies will continue to support their respective Affiliates and Owners, with iPROMOTEu CEO Lori Bauer overseeing the combined senior leadership team.
With combined 2023 sales exceeding $365 million, this acquisition signifies a major shift in the industry landscape and elevates the entity’s influence as a leading distributor network powerhouse, the companies say.
“AIA’s business model aligns with iPROMOTEu’s core mission of empowering distributor independence while offering a comprehensive suite of essential resources and top-tier support for their success,” Bauer says. “This strategic acquisition will enhance the market presence of both organizations and brings many competitive advantages.
“Leveraging our combined strengths will provide countless benefits for both iPROMOTEu Affiliates and AIA Owners, including accelerated advancements in technology and integrations, deeper supplier relationships, enhanced sales and marketing resources and much more. This will undoubtedly propel growth and help move the industry forward.”
AIA’s Growth
Founded in 1981, AIA has seen steady growth in recent years, with revenue of $154.6 million in 2023.
- CEO Nancy Schmidt started with the organization in 2018 and has served as its top officer since 2020.
- Schmidt will serve as an executive advisor for a period of time following the close.
“As I reflect on AIA’s transformation over the past several years, I am incredibly proud of how our commitment to our purpose and vision has guided us to this pivotal moment,” Schmidt says. “This acquisition marks the next chapter in our journey, where the value we have created for the modern distributor will be fueled with even more new opportunities, forming a truly powerful force in our industry. I’m excited about the remarkable potential this union with iPROMOTEu will bring to AIA Owners and to the industry.”
iPROMOTEu and AIA operate under similar business models and both companies are recognized for helping their distributor members grow their businesses by providing order financing, order processing support, sales and marketing tools, technology solutions and other resources.
“As we begin this new chapter, we are thrilled about the opportunities on the horizon and eagerly anticipate a future rich with innovation and success for our Affiliates and Owners,” said Bauer.
Written by: John Corrigan
Published with Permission from PPAI
