News October 10, 2025
The Sourcing Group Acquires Vanguard Direct, Bringing Total Revenue to $265 Million
The Counselor Top 40 distributor says the acquisition will help TSG expand its reach into managing technology applications for public and private sector clients.
Key Takeaways
• The Sourcing Group (TSG, asi/330100) is acquiring Vanguard Direct (asi/350665), boosting its annual revenue to $265 million, with projections to exceed $300 million in 2026.
• TSG leadership emphasizes strategic alignment over financial gain, highlighting shared business philosophies, technology models and a commitment to employees as key drivers behind the acquisition.
• The acquisition expands TSG’s capabilities, particularly in managing technology applications for public and private sector clients while preserving Vanguard Direct’s legacy of impactful, mission-driven service.
Counselor Top 40 distributor The Sourcing Group (TSG, asi/330100) announced it has acquired Vanguard Direct (asi/350665). The deal brings TSG’s annual revenue (which includes promo, print and other services) to $265 million, with a projected revenue of over $300 million in 2026. Financial terms of the acquisition weren’t disclosed.
According to Billy Caan, co-founder and CEO of TSG, the business decision is about more than hitting revenue numbers.
“Our acquisition of Vanguard Direct is the culmination of a very exciting process that brought our companies together through a strategic, collaborative evaluation of our business philosophies, our technology models, our like-minded leadership and our talented, experienced people that make it all happen,” Caan said.
Dennis Clemente, co-founder and president of TSG, added that Vanguard’s business model will help the distributor expand its reach into managing technology applications for public and private sector clients.
TSG was founded in 2005 and reported $56 million in promo-specific revenue in 2024. The distributor serves clients across industries, including healthcare, insurance and tech. It is headquartered in New York, NY, and operates several logistics centers across the country.
Vanguard Direct, which was founded over four decades ago, offers promotional products, printing and signage in addition to other marketing services. The distributor, which reports an annual revenue of $10 million per year for its promo products and appeared on Counselor’s most recent Best Places to Work list, has a stated mission of making a positive impact in the world. “We were interested in finding a company that was completely aligned with our business philosophies and truly understood our commitment to our dedicated team of employees,” said Vanguard President Bob O’Connell.
Vanguard Direct will be included within TSG's corporate umbrella. It will rebrand fully as TSG once the transition is complete.
“Bob and I have built Vanguard Direct with a constant eye on using technology as it relates to marketing and business services for our clients,” added Donald O’Connell, executive vice president. “The synergies between TSG and Vanguard are very much aligned. We all believe that our collective focus on these key business elements will take us to the next level.”