Mail-Well Decides to Keep PrintXcelSM
Englewood, Colo.-based manufacturer Mail-Well Inc. announced July 9 that the remaining part of its Printed Office Products segment, known as PrintXcelSM, has been withdrawn from the market. A special committee of Mail-Well's board of directors, established to oversee the disposition of the company's discontinued operations, accepted management's recommendations to keep the PrintXcel division.
"PrintXcel has continued to perform as expected," said Paul Reilly, Mail-Well's chairman, president and CEO. "However, the price that the potential buyer was able to offer, given the present tight banking market environment, was in our opinion totally inadequate." The company declined to comment further on the buyer and the offer.
Kevin Lombardo, president and CEO of PrintXcel, said Mail-Well's decision is positive news for distributors PrintXcel serves. "Being part of Mail-Well opens doors to new ideas that will help us deliver solutions to the marketplace," he said. "We'll continuously aim to extend our product and service lines to the distributor channel."
PrintXcel specializes in six categories of print products and services: documents, labels, direct mail, commercial printing, envelopes and business solutions.
In May, Mail-Well sold its food and beverage label business segment, Mail-Well Label, to Renaissance Mark, a privately held company based in Denver.
Wise Acquires EPX Group
Wise Business Forms Inc., a manufacturer based in Alpharetta, Ga., announced in late May that it acquired EPX Group, a manufacturer based in Portland, Maine. EPX will be integrated into Wise's manufacturing network and operate autonomously with corporate and administrative support.
EPX President Robert E. Willis, a former manufacturing vice president of DMIA, said, "I feel strongly that our companies' philosophies are virtually identical, and [we] recognize the enhanced opportunities that this sale will provide to EPX's and Wise's customers, employees and vendors."
Noting that his company's market reach now spans the eastern United States, Bill Prettyman, chairman and CEO of Wise, said, "The acquisition of EPX provides us with a market-leading position in New England in laser cut sheet and forms production, as well as synergistic opportunities in new product areas such as digital printing, commercial printing and warehouse/distribution services."
IDS Acquires Volunteer Business Systems
Dallas distributorship IDS Inc. announced July 1 that it acquired Volunteer Business Systems Inc., a distributorship in Chattanooga, Tenn. Frank Tatum, Volunteers' founder and president, and all Volunteer employees remain with IDS.
The acquisition expands IDS' warehousing capabilities and adds multiple shipping locations to help the firm meet clients' pick-and-pack, distribution, and fulfillment needs.
IDS' 2001 sales were approximately $3.5 million; Volunteer's 2001 sales were approximately $2.5 million.
"We are very excited with the addition of Volunteer Business Systems to the IDS team," said Walt Smith, CDC, president of IDS and a DMIA Membership Liaison for Region 4. "Having all of the employees of Volunteer, especially Frank Tatum, remain onboard is a real plus, based on the success they have generated" in Tennessee, Georgia and Alabama.
Standard Register Buys InSystems
Dayton, Ohio-based manufacturer Standard Register acquired InSystems Technologies Inc., a Toronto provider of electronic-business programs, for $89 million in cash on July 3. InSystems operates as a wholly-owned subsidiary of Standard Register, retaining its brand identity, leadership team and workforce.
Standard Register said it expects the deal will broaden its information-programs offering and technology platform through the addition of extended relationship management and document automation systems. The acquisition also helps Standard Register address broader industry trends, including the convergence of insurance, banking and other financial services.
Integrity Graphics Acquires The Typehouse Group
Integrity Graphics, a commercial printing and graphics communications firm in Windsor, Conn., acquired the assets of The Typehouse Group, an e-solutions, electronic and prepress services provider in Wallingford, Conn. Integrity has annual sales of $12 million; Typehouse has annual sales of $3 million.
Integrity plans to change Typehouse's name to e-Integrity. It will serve as Integrity's e-business solutions division in Wallingford. Michael Sansone, son of Typehouse co-founder James Sansone, will lead the division. Integrity will consolidate Typehouse's prepress and printing divisions at its Windsor operation.
Weyerhaeuser-Willamette Deal Done
After 14 months, Federal Way, Wash.-based paper supplier Weyerhaeuser Co. completed its $6.11 billion acquisition of Portland, Ore.-based rival Willamette Industries Inc., ending one of the longest-running takeover battles in recent years.
In mid-January, Willamette tentatively agreed to be acquired for $55.50 a share and ended talks to enter into a business combination with Georgia-Pacific Corp.'s building-products unit. Willamette balked at Weyerhaeuser's initial offer of $48 a share. Both companies' histories extend nearly a century in the Pacific Northwest.
