When SAV Digital Environments and Premiere Systems joined The Guild Alliance, little did they know that this business group aimed at helping them share ideas and processes would lead to a joint venture launch. But that’s exactly what happened last month when these two leading custom integration companies in the industry announced the formation of a joint venture to take over the Jackson Hole, Wyo. branch of Xssentials and relaunch it under the name Premiere SAV.
“The Guild Alliance one of our one of our biggest assets in terms of having a sense of collaboration with trusted folks in the industry and so I attribute this deal to our association and friendships that we’ve formed through the Guild,” says Cory Reistad, president of SAV Digital Environments, based in Bozeman, Mont.
Premiere Systems, with offices in Chicago, Miami and Tampa, is another key member of the Guild, run by Ken Johnson. Both companies are consistently on the lookout for opportunities and the Jackson Hole, Wyo. market can be a quite lucrative one. So that’s what drove the two companies to acquire the Wyoming branch of Xssentials in a partnership.
“It was fairly sort of organic in nature,” says Reistad in terms of how the idea first came up. “Xssentials reached out to us and Premiere independently in terms of their desire to sell that branch. It came up between us at a Guild conference actually. We were able to share that information with each other and had an awareness that both of us have had individual opportunities in that market.”
SAV Digital Environments has had some projects in the Jackson Hole area, which is a four-hour drive away. Likewise, Premiere had some projects there also, but it is much farther away for them. Between the two companies they have a combined staff of more than 150 people, and both companies similarly focus on high-end projects, so it seemed to be a natural fit for them to collaborate on the opportunity.
Since Xssentials already had a talented 12-person workforce on staff at the location, it made sense to acquire that talent and the office.
“We can fortify the team with additional projects and opportunities. And we don’t have to come in and try to hire a new team in this market right now. So, we think we can increase efficiency and put in systems and processes. We’re also excited about the idea of keeping Jackson as a small market, but be able to add resources when necessary,” adds Reistad.
One of the keys to the success, according to Reistad, is the solid team already in place at the location.
“We wouldn’t have done it if we didn’t have a champion in the marketplace. It’s going to be a sovereign unit for all intents and purposes. We’re just going to add advisory and strategic service to it, as well as from a sales and business development perspective, in terms of Ken and I and what we apply to the marketplace. We don’t want to disrupt the process what they’re doing. What they’re doing is working,” he notes.