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The CAPS Group Acquires Educational Operations of Schawk

Tuesday, March 07, 2006

Press release from the issuing company

CHICAGO, March 6 -- The CAPS Group, a premier provider of graphic arts services to corporations, advertising agencies and design firms, has acquired the educational product development, catalog, publication and New York-based advertising pre-media operations of Schawk, Inc., a digital imaging graphics services provider based in Des Plaines, Ill., for $29 million in cash plus assumed liabilities. Annual revenue of the acquired operations is approximately $62 million. The deal, which closed last Friday, makes The CAPS Group one of the largest independent graphic arts services providers in the United States with total revenue of approximately $80 million and more than 500 employees nationwide. "This acquisition will allow us to offer our customers services for every stage of the graphic arts production process. Cross-selling a more diverse range of products and services, including educational product development, catalog design and execution, as well as complete magazine publishing and advertising management services, will help us grow our business," said John Reilly, chairman, The CAPS Group. "In addition, our new presence in New York will enable us to better serve our clients there and strengthen our position among New York's heavy concentration of advertising agencies and publishers." The acquired operations have facilities in New York, Illinois, Florida and Wisconsin. The New York-based operation, which provides creative retouching, digital imaging, content management and workflow management solutions for advertising agencies and publishers, along with entertainment and luxury goods clients, will be called HudsonYards. Its clients include Grey Worldwide, JWT, Lancome, Martha Stewart Living Omnimedia Inc., The McGraw Hill Companies, Newsweek, Ogilvy and Showtime Network Inc. Diane Romano, who was president of the New York-based operation under Schawk, joins The CAPS Group as president and chief operating officer of HudsonYards. Romano's experience spans nearly four decades and includes serving as president of pioneering digital prepress companies AGT and Seven Worldwide. A well-known industry speaker, Romano is chairman of the board for the Association of Graphic Communications and co-chair of NYU's Center for Graphic Communications Management and Technology. Among her awards are the AGC Power of Communications Award, the David G. Jensen Memorial Award, P3's Luminaire Award and Printing News' 2005 Florence Joachim Woman of the Year Award. The group of facilities in Crystal Lake, Evanston, and Pontiac, Ill., Orlando, Fla., and Racine, Wis., which was known as Black Dot Group prior to being acquired by Schawk, will again operate under the Black Dot Group brand. Over the past 43 years, Black Dot Group has evolved into a provider of end-to- end services that extend far beyond its core pre-media work to the education and catalog industries. Black Dot Group provides creative, design, photography and content development to clients in the catalog, direct mail, educational text book publishing, publications/directories and retail markets. Jerry H. Byrd Sr., who served as group president for this operation under Schawk, joins The CAPS Group as president and chief operating officer and will continue to lead Black Dot Group. Byrd brings 37 years of operational management and business development experience to the CAPS team along with a portfolio of clients that includes some of the best known brands within the industries Black Dot Group serves. Mesirow Financial, Chicago, and White Cap Private Equity Management LLC, Chicago, served as financial advisors to The CAPS Group on this transaction.




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