HALO Branded Solutions (asi/356000) rocked the promo industry again with its latest Top 40 acquisition: Axis Promotions (asi/128263). The move potentially makes HALO the second-largest distributor in the industry, with combined revenue of nearly $660 million.

In an exclusive podcast with Counselor, HALO CEO Marc Simon and Axis President Larry Cohen reveal how the deal came together and what’s next for both companies.

“Over the last year and a half, as I looked out at the industry, I saw more consolidation and some of the challenges we were starting to face with client consolidation, globalization and technology,” says Cohen in the interview. “Even being at $50 million, it started to feel like we were at the right place right now, but maybe not in the right place for two-three years down the road.”

Also in the podcast, Cohen reveals if he considered other industry buyers for Axis, and Simon discusses HALO’s future growth strategy, and whether there are any additional Top 40 acquisitions on the horizon. Listen to the podcast here: