BuildASign, an Austin startup co-founded by Dan Graham in 2005, is being sold in a deal that values the company at $280 million.
Cimpress N.V.(Nasdaq: CMPR), a Dutch investment firm specializing in mass-customization businesses, says it has agreed to acquire BuildASign from its current majority owners, PWP Growth Equity, which is a private equity group in Perella Weinberg Partners. The deal is expected to close in October. Cimpress says it will share more details, including integration plans, during its earnings call on Oct. 31.
Cimpress owns Vistaprint and several other printing businesses, and the firm says adding BuildASign into its fold will let those companies benefit from each other's offerings in the low-cost canvas print market. Vistaprint recently opened a new manufacturing facility in south Dallas.
BuildASign, which was self-funded for 10 years, has generated about $129 million in revenue in the past 12 months, which represents roughly 20 percent year-over-year growth, according to a news release.
“We are excited to welcome BuildASign to Cimpress," Cimpress CEO Robert Keane said in a news release. "They bring strong talent, a customer-centric culture, low-cost production operations and strong e-commerce capabilities that work seamlessly together to serve customers with market-leading prices, fast delivery and great customer service."
BuildASign, which launched with humble beginnings that involved pitching software to sign shops, became one of Austin's fastest-rising startups, eventually growing to about 40 websites operating in several countries before receiving a growth equity investment from PWP Growth Equity in 2015.
The startup has also played a foundational role in Austin's startup ecosystem, thanks in part to BuildASign's foundational role in the Austin Startup Games and to Graham's leadership roles in the Austin startup community. (Graham stepped down as CEO and became BuildASign's executive chairman last year, and former Dell executive Bryan Kranik took the helm.)
Graham has since gone on to co-found Notley, a local nonprofit and venture capital firm that supports social innovations, as well as The Center for Social Innovation and Relay Coworking at Springdale General.
Editor's Note: A previous version of this story incorrectly described The Center for Social Innovation. It has been updated to correct that and to add Relay Coworking.
