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The following is a partial list of mergers and acquisitions in the document management industry that occurred from January to December 1999.
Mergers and Acquisitions in 1999ACOM, a provider of integrated MICR laser check processing solutions based in Long Beach, Calif., acquired the stock and assets of Formula One Systems Inc., Duluth, Ga., a developer of electronic forms software. Formula One operates as an independent subsidiary of ACOM.
Acucote Imaging, formerly Aucote Inc., a $55 million thermal transfer ribbon manufacturer and pressure sensitive coater, purchased Global Imaging Products' thermal transfer ribbon business, including all thermal transfer ribbon equipment and accounts. Global Imaging is a $12 million company based in Atlanta.
Advance Business Graphics, a $43 million business printer based in Mira Loma, Calif., purchased the Tenet Print Center in Modesto, Calif., from Tenet Healthcare Corp. The facility, renamed ABG Print Center, operates as a division of ABG.
American Business Products Inc., a supplier of custom printing services and flexible packaging based in Atlanta, acquired Tekkote Corp., a $30 million manufacturer of coated and printed packaging products based in Leonia, N.J. In addition, ABP sold its book manufacturing unit, BookCrafters USA Inc., to The Sheridan Group, a nationwide provider of printing and publishing services.
American Tissue Holdings Inc., a manufacturer of facial and bath tissue, towels and napkins based in Hauppauge, N.Y., acquired two of Crown Vantage Inc.'s pulp and paper mills in New Hampshire.
Avery Dennison Corp., Pasadena, Calif., a $3.5 billion manufacturer specializing in pressure sensitive technology and self-adhesive solutions, acquired Bear Rock Technologies Corp., Shingle Springs, Calif., a software development firm specializing in bar code applications, labeling solutions, and Web-enabled print technologies.
B.A. Pargh Company, Nashville, Tenn., a $60.5 million national office product wholesaler, was sold by Service Merchandise Company Inc. to an investment group headed by B.A. Pargh's founder, Bernard Pargh.
Base-Line Inc., a graphic arts products supplier based in Auburn, Wash., acquired Heath Custom Press, a manufacturer of offset, crash printing and waterless presses in Renton, Wash.
Bestforms Inc., a forms manufacturer headquartered in Camarillo, Calif., merged with Shipco Inc., a manufacturer of stencils, labels and cards formerly based in Santa Fe Springs, Calif. The combined company operates under Bestforms' name.
Champion Industries Inc., Huntington, W.Va., purchased all the stock of Diez Business Machines (d.b.a. Diez Office Supply) in Gonzalez, La. Diez sells office products, office furniture, copier paper, computer stock tab and computer data products. Diez is now a subsidiary of Champion's office products group, Stationers Inc., and continues to operate under the Diez Office Supply name. Smith & Butterfield, a subsidiary of Champion Industries Inc., Evansville, Ind., purchased Independent Printing Services, also of Evansville. IPS, a $1.2 million company, merged with the Smith & Butterfield operation. Another of Champion's subsidiaries, Blue Ridge Printing, acquired certain assets of AIM Printing, a $3.2 million company in Knoxville, Tenn. Champion operates more than 15 divisions that produce forms and commercial printing and supply office products and furniture. It had 1998 revenues of $123 million.
Chase Corp., Bridgewater, Mass., a manufacturer of products used in the specialty chemical, converting and electronic manufacturing services industries, acquired NorthEast Quality Products Co. Inc., a specialty printer producing custom pressure sensitive labels in Newburyport, Mass.
Consolidated Graphics Inc., Houston, acquired several commercial printers, including Mount Vernon Printing Company, Landover, Md.; CMI and Multiple Images Printing Inc., both of Chicago; Maxwell Graphic Arts, Philadelphia; Wentworth Printing Corp., Columbia, S.C.; The Printery, Milwaukee; H & N Printing & Graphics, Baltimore; Piccari Press, Philadelphia; The Graphics Group of Dallas; Apple Graphics, Los Angeles; Keys Printing Company, Greenville, S.C.; Woodridge Press Inc., Anaheim, Calif.; and Automated Graphic Systems, which serves Washington and Cleveland. Consolidated Graphics signed letters of intent to acquire the following commercial printers: Westland Printers, Baltimore; T/O Printing, Westlake Village, Calif.; Mercury Printing, Memphis, Tenn.; Everett Graphics Inc., Oakland, Calif.; and Byrum Lithographing Co., Columbus, Ohio. Consolidated also acquired Maryland Composition.com, a digital media service provider based in Baltimore. Upon completion of pending acquisitions, Consolidated Graphics will have companies in 25 states with combined revenues of more than $685 million.
Corporate Express, a supplier of office and computer products headquartered in Broomfield, Colo., was purchased for $2.3 billion by Buhrmann NV, an international business services and distribution company based in Amsterdam, Netherlands. According to Corporate Express, a wholly-owned subsidiary of Buhrmann, the merger creates the world's largest business-to-business office supply and services company. Before the Buhrmann deal, Corporate Express acquired Fannings National Office, a $5.2 million contract stationer in Newfoundland, Canada. Corporate Express sold Expedited Inc., a subsidiary of Corporate Express Delivery Systems, to WorldPoint Logistics, a $75 million logistics holding company based in Bellevue, Wash. In addition, Corporate Express sold Corporate Express Delivery Systems Inc. to United Shipping & Technology Inc., a logistics company based in Minneapolis. Corporate Express also sold Bank 'N Business Systems, Inform Inc. and Computer Software Inc. to Global DocuGraphiX, a document management and graphics services company based in Chicago.
Corvest Promotional Products Inc., Largo, Fla., acquired two promotional products suppliers: Toppers Inc., Thorofare, N.J., and Gootnick Enterprises Inc. (d.b.a. It's All Greek To Me), Simi Valley, Calif.
Crabar Paper & Allied Products Corp., a Dayton, Ohio-based holding company, acquired Crabar Business Systems, a manufacturer in Dayton, as one of its subsidiaries. Another of the company's wholly-owned subsidiaries, The Deferiet Paper Company, bought Champion International Corp.'s groundwood specialty mill in Deferiet, N.Y. CPAP also purchased Witt Printing Company, El Dorado Springs, Mo., a $13 million manufacturer of short to medium run continuous forms, cut sheets, label/form combinations and unit sets.
Deluxe Corp., St. Paul, Minn., sold its Deluxe Direct Response business to Acxiom Corp., a provider of data integration services, mailing list services and information technology services headquartered in Conway, Ark. Deluxe also sold Current Social Expressions and PaperDirect to Taylor Corp., a privately-held holding company in North Mankato, Minn. Deluxe acquired eFunds Corp., a provider of electronic check conversion solutions based in Tustin, Calif.
Dominion Holdings Inc. acquired PSI Group Inc., an $18 million distributorship with facilities in New York, Stoughton, Mass., and Fairfield, N.J. Dominion Holdings is a $65 million holding company that includes Dominion Solutions, Roanoke, Va.; Dominion Forms and Computer Supplies, Richmond, Va.; Available Business Group, Chicago; APS Direct, Chicago; and Emerald Solutions In Print, Edison, N.J.
Duffie Graphics Inc., a Danville, Va.-based manufacturer, purchased customer accounts, including customer histories, files and artwork from Tar Heel Business Forms, a Wilmington, N.C.-based manufacturer of unit sets, cut sheets and checks, that closed in October.
Ed. Garvey and Company, Niles, Ill., a provider of sheet-fed and web printing, digital prepress, graphic design and other services, merged with Tru Line Lithographing Inc., a commercial printer in Racine, Wis. The companies continue to operate under their existing names.
ELOPAK Americas, New Hudson, Mich., a worldwide supplier of packaging systems, acquired SCOTT Equipment Company Inc., a supplier of tab cutting, tab laminating and reinforcing machines, and laminating film for tab divider products.
Ennis Active on Acquisition Front
DESOTO, Texas—Ennis Business Forms Inc. acquired the assets of Adams McClure and agreed to purchase the assets and business of American Forms Inc. Adams McClure is a point-of-purchase display enterprise headquartered in Denver. American Forms is a San Antonio-based manufacturer of business forms.Adams McClure provides a range of services that includes creative design, printing and fulfillment for point-of-purchase buyers. The company's clients specialize in promoting consumer products with temporary point-of-purchase advertising. The 5-year-old company has a current run rate in the neighborhood of $30 million. Adams McClure's management team will continue to operate the business.
The acquisition of American Forms was expected to close Nov. 15. American Forms recorded sales of approximately $4.5 million in its most recent fiscal year. The company complements Ennis' market presence in the San Antonio metro area, according to Ennis officials. Terms of the transactions were not disclosed. Ennis maintains 16 production facilities located in 11 states.
Ennis Business Forms Inc., DeSoto, Texas, acquired the assets and business of American Forms Inc., a $4.5 million manufacturer of business forms in San Antonio. Ennis also purchased Adams McClure, a $30 million point-of-purchase display enterprise headquartered in Denver.
Global DocuGraphiX Inc., Chicago, a document management and graphics services company, acquired two distributorships based in Jackson, Tenn.-Data Source Corp. and Dugger Business Forms. Data Source offers forms management services, bar code systems and business products. Dugger markets promotional and business products and offers forms management services. Global DocuGraphiX also purchased Computer Software Inc., Norcross Ga., from Corporate Express, Broomfield, Colo. Computer Software develops and markets TopForm® operations software. In addition, Global DocuGraphiX acquired distributorships Bank 'N Business Systems, Shreveport, La., and Inform Inc., Nashville, Tenn., from Corporate Express.
Golden Pacific Systems, a distributorship based in Rohnert Park, Calif., merged with Innovative Business Products, a distributorship based in Marin County, Calif. As part of the merger, Golden acquired Adpro, a promotional products firm that IBP purchased in 1996.
Graphic Systems Inc., a $120 million company based in Moorestown, N.J., bought Young Phillips Corp., Clemmons, N.C. Both companies sell, distribute and service printing equipment and supplies.
Hano Document Printers, a $26.4 million forms manufacturer based in Springfield, Mass., was purchased by Compass Financial Group, a Virginia-based private investment firm. Hano was formerly a subsidiary of Workflow Management Inc., a spin-off company of U.S. Office Products.
Hart Information Services Inc., a $30 million distributorship based in Austin, Texas, acquired the Government Services and Election Printing Division of Paragon Systems Group, Denver.
Highland Computer Forms, a Hillsboro, Ohio-based manufacturer of stock tab, stock cut sheets, custom long run continuous products and cut sheets, health care forms and envelopes, acquired Economy Data Products, a manufacturer of stock tab and long run custom products in Des Moines, Iowa. The combined organization operates as Highland Computer Forms.
Hygrade Business Group, a distributorship headquartered in West Caldwell, N.J., purchased ABF Printed Products, a distributorship in Jersey City, N.J., with annual sales in excess of $5 million.
IIMAK, a subsidiary of Paxar Corp. and a manufacturer of thermal transfer ribbons in Amherst, N.Y., partnered with the management of Inpress Sistemas e Automacao Ltda. to establish IIMAK Brasil Ltda.
Illinois Tool Works, Chicago, a manufacturer of components and industrial systems, acquired Chapman Corp., a manufacturer of static control, electrostatic charging and web cleaning systems in Portland, Maine.
International Paper, Purchase, N.Y., merged with Union Camp Corp., Wayne, N.J. Union Camp facilities operate under the International Paper name.
Kelmscott Communications LLC, a San Francisco-based graphic arts consolidator, acquired three printing companies: Watermark Press, San Francisco; Printing Control, Seattle; and Commercial Printing Company/ CDS, Medford, Ore.
Labels West Inc., Seattle, an $11 million manufacturer of custom labels, acquired Associated Graphics, a manufacturer of custom labels in San Marcos, Calif.
Mail-Well Inc., Englewood, Colo., a $1.5 billion consolidator in the printing industry, acquired Colorhouse Inc., a $20.7 million full-service prepress company based in the Minneapolis area; Hill Graphics, a $20.5 million sheet-fed commercial printer in Houston; Porter Chadburn plc, a $125.6 million London-based label manufacturing company; Enterprise Press of New York, a $23 million commercial printer; Direct Graphics Inc., a $21 million direct mail printer based in Sidney, Ohio; Northeastern Envelope, a $7 million envelope manufacturer based in Braintree, Mass.; and Phototype Color Graphics, a commercial printer based in Pennsauken, N.J. Mail-Well signed letters of intent to purchase commercial printers Strathmore Press, Cherry Hill, N.J., and Braceland Brothers, Philadelphia. Mail-Well's Porter Chadburn subsidiary plans to buy Design Mark Industries from Ferguson International plc of London. DMI is a $13 million manufacturer of pressure sensitive labels and graphic overlays based in Wareham, Mass. Mail-Well's Lancer Label subsidiary added manufacturing facilities in Terre Haute, Ind., and Houston to its existing operations. The plants are part of the Information Technology Division (formerly Poser Labels), which operates as a separate division under Lancer Label.
Mail-Well Acquires Envelope Manufacturer
The Mead Corporation, a $3.8 billion forest products company based in Dayton, Ohio, sold $90 million of non-strategic assets. This included the divestiture of Mead Ink Products, which was purchased by Progressive Ink Co. LLC, a St. Louis-based subsidiary of the Alper Ink Group LLC. Other divestitures included timberland in South Range, Mich., a warehouse in California and an undeveloped mill site in Tennessee. In addition, Mead agreed to acquire the AT-A-GLANCE Group of Cullman Ventures, a $325 million producer and marketer of dated and time management products headquartered in Sidney, N.Y.
ENGLEWOOD, Colo.—Mail-Well Inc. acquired Northeastern Envelope, an envelope manufacturer based in Braintree, Mass., with annual sales of approximately $7 million. Terms of the deal were not disclosed. In a prepared statement, Gerald F. Mahoney, chairman and CEO of Mail-Well, said his firm bought Northeastern to expand its product and customer base in New England. Mail-Well, a leading consolidator in the printing industry with 1998 sales of $1.5 billion, specializes in four market segments: commercial printing, envelopes, labels and printing for distributors. It has more than 13,000 employees and 110 printing plants throughout North America.
Merrill Corp., St. Paul, Minn., a provider of document and information management services, acquired Daniels Printing, a $68 million financial and commercial printing company headquartered in Boston. The acquired entity is known as Merrill/Daniels. Merrill also purchased Alternatives Communications Group Inc., a $20 million marketing company based in Plymouth, Minn., that does business as Merrill/Alternatives.
Metro Label Corp., Garland, Texas, a manufacturer of pressure sensitive labels and tags, was acquired by Generation Capital Partners L.P., a New York-based private equity firm. Metro Label acquired a process color manufacturing facility in Fort Worth, Texas.
Midwest Single Source Inc., a distributorship with offices in Wichita, Kan.; Topeka, Kan.; Hutchinson, Kan.; and Oklahoma City, bought Alcazar Ltd., a Wichita-based company that sells mailing and shipping technologies and supplies.
Moore Corp. Ltd., a large direct-selling forms and labels manufacturer headquartered in Toronto, sold all company operations in Australia, New Zealand and Papua New Guinea in a management buyout. Moore combined its Data Management Services and CyberHomes® businesses with VISTAInfo, a San Diego-based Internet risk management provider. In addition, Moore North America's Honesdale, Pa., plant was purchased by Distributors Stock Forms Inc., a $60 million manufacturer of stock and custom forms based in Addison, Ill.
Nationwide Graphics Inc., Houston, a consolidator of commercial printing and graphic arts companies, purchased US Press, a 4-color printer in Valdosta, Ga.; H&D Graphics, a printing, database management, telemarketing and fulfillment services provider in Miami; Page/International Communications, Houston; and Copyright Printing Inc., Austin, Texas.
Noosh Inc., Palo Alto, Calif., an Internet-based print management services provider, acquired Carpé Data, a Bay Area company that produces software designed for managing print sales.
Office Depot Inc., Del Ray Beach, Fla., bought out its Japanese joint venture partner, Deo Deo Corp., for $28 million.
Precept Business Services Inc., Dallas, signed a letter of intent to sell its Transportation Services Division to New York investment group Holding Capital Group Inc. in a management buyout led by Ron Sorci, the division's president. The transaction was valued at $35 million, including $27 million in cash, assumption of debt related to the division and an earnout based on future operating results. Prior to that transaction, Precept Business Services had acquired Ambassador Transportation Services Inc., a corporate transportation services provider in East Hartford, Conn. The Precept Business Products Division acquired Computer Forms & Products, a $9.5 million distributorship based in Granite Falls, N.C.
Precision Line Inc., Minneapolis, a supplier of mouse pads and computer accessories to the promotional products industry, purchased Mustang Specialties, a Minneapolis-based supplier of mouse pads and computer accessories.
Print Technologies & Services Inc., a $21 million distributorship headquartered in Addison, Ill., acquired Elliott Graphics Inc., a $5.8 million distributorship in Oakbrook, Ill.
Professional Business Systems Inc., a $14 million distributorship in Roselle, Ill., merged with its largest customer, Patterson Dental Company, an $850 million distributor of dental products based in St. Paul, Minn.
ProForma and Adventures in Advertising, two franchise operations in the printing and promotional products industry, merged. ProForma, based in Cleveland, has approximately 430 franchise owners who provide a range of printed products, including forms, labels and promotional items. Adventures in Advertising, headquartered in Quincy, Mass., has more than 220 franchise owners who sell promotional products. ProForma and AIA operate independently. In addition, Graphic Management Systems Inc., a Toronto-based distributorship, was purchased by four employees who divided the company into four independently-owned ProForma franchises.
PubliCARD Inc., Fairfield, Conn., a developer of smart card systems, signed a letter of intent to purchase the assets of Absec Ltd., a manufacturer of cost recovery and cashless payment systems based in Bangor, Northern Ireland.
Quebecor Printing Inc., Montreal, launched a bid for Greenwich, Conn.-based World Color Press Inc., worth $4.7 billion. The new company operates as Quebecor World Inc.
Quick Tab II Inc., Tiffin, Ohio, acquired Coastal Graphics, a commercial printing manufacturer based in Vero Beach, Fla. Quick Tab II specializes in custom continuous and laser security checks and forms. As part of the deal, Quick Tab II acquired Coastal Graphics' digitized graphics department, called Pre-Press Express.
The Reynolds & Reynolds Company, a large direct-selling manufacturer based in Dayton, Ohio, acquired Sterling Direct Inc., a $28 million provider of direct marketing services headquartered in St. Louis.
SFI, the $129.9 million distribution division of Workflow Management Inc., New York, acquired Freedom Graphics, a New Jersey-based distributorship; Superior Graphics Inc., a $22 million commercial printing distributorship in New York; and Tradewinds Graphics (d.b.a. Network Printing Company), a $5.8 million commercial printing distributorship in New York. In addition to the SFI acquisitions, Workflow Management purchased four other firms: Premier Graphics, Columbia, S.C., a high-end label material producer; Pacific Admail, a Los Angeles-based producer of direct mail materials; Universal Folding Box, a New Jersey manufacturer of high-quality printed packaging; and Sundog Printing, a commercial printing operation in Alberta, Canada. Workflow Management sold Hano Document Printers, a Springfield, Mass., forms manufacturer, to Virginia-based private investment firm Compass Financial Group.
SigForms, San Jose, Calif., a distributorship of electronic forms and other document management products, sold the electronic side of its business to StreamServe Inc., an intelligent output management and e-communications software vendor based in Raleigh, N.C. SigForms adopted StreamServe's name and operates as its West Coast office. SigForms founder Frank Balistreri established SigForms V2.0, a distributorship that provides traditional forms products.
Standard Register, a large direct-selling manufacturer based in Dayton, Ohio, sold the assets of its COMMUNICOLOR® direct mail printing unit to R.R. Donnelley & Sons Company, a Chicago-based commercial printing firm with annual sales of $5 billion. In addition, Standard Register purchased DuPont's printing and publishing operation in Boothwyn, Pa. SR also signed a 5-year outsourcing agreement that makes DuPont the facility's primary customer.
TCH Group (The Copy House), a full-service digital duplication company headquartered in Sacramento, Calif., joined FYI Inc., a document and information outsourcing company based in Dallas.
US1.Com Inc., Petaluma, Calif., joined a conglomerate of tag and label companies including Coastal Tag & Label Inc., Santa Fe Springs, Calif.; Calico Tag & Label Inc., Charlotte, N.C.; and Futek Forms, Tags & Labels Inc., Neenah, Wis. US1.Com was formed from the acquisition of the assets of Brilliant Color Card, a manufacturer of prepaid telephone calling cards based in San Rafael, Calif.
Wallace Computer Services Inc., a large direct-selling manufacturer based in Lisle, Ill., sold its $40 million contract stationer business to Boise Cascade Office Products Corp., Itasca, Ill.
Westvaco Corp., a New York-based packaging and paper manufacturer, acquired the assets of New England Envelope Co., a $13 million envelope supplier based in West Boylston, Mass.
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