Top 40 promotional products distributor HALO Branded Solutions (asi/356000) announced Tuesday that it has hired Michael Palumbo as its director of business development. Palumbo will report directly to CEO Marc Simon.
Michael Palumbo, HALO
Executives for Sterling, IL-based HALO said that Palumbo’s impressive performance in more than eight years of mergers and acquisitions work will make him a valuable asset at the distributorship. In recent years, HALO has been aggressively making acquisitions. In 2018 alone, the firm bought two other now former Top 40 distributors, CSE and Sunrise Identity.
“Mike's experience and insights will bring value to both HALO and business owners who wish to partner with us,” said Simon. “We are excited to have him on the team.”
Palumbo, who will work out of HALO’s Oakbrook Terrace, IL office, is enthusiastic about joining the ad specialty firm. “HALO’s acquisition strategy—reward business owners for building a strong platform, then add resources to assure long-term value for the business—is unique,” Palumbo said. “I am looking forward to bringing HALO together with dynamic industry enterprises that can share that success.”
A graduate of the University of Wisconsin-Madison with a degree in economics, Palumbo was most recently an investment banking associate for William Blair & Company, a middle market investment banking firm in Chicago. During his two years there, he advised on more than 20 engagements and six completed transactions that ranged from $100 million to $550 million, according to his resume.
As an investment banking associate at City Capital Partners from July 2014 to June 2017, Palumbo worked in small deal teams on M&A deals. He was responsible for assisting with all transaction deliverables and financial analyses. He advised on more than 12 engagements and two completed transactions ranging from $40 million to $600 million. Palumbo also performed investment banking/M&A-related work for Madison Street Capital.
With reported 2017 North American promotional product revenue of $416.4 million, HALO ranked third on Counselor’s most recent list of the largest distributors in the promo products industry. The new list debuts later this month.