A special purpose acquisition company Enterprise Acquisition has agreed to buy commercial printer Workflow Management for $669m (€456.7m) as the volume of mergers and acquisitions sputtered to a 30% decline for the year to date.

Enterprise will fund the transaction with $179m in cash and assumes $440m in debt. Enterprise raised $250m in an initial public offering last year. UBS, Ladenburg Thalmann, and Grannus Financial Advisors acted as financial advisors to Enterprise Acquisition on the transaction.