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Ginny's Printing Merges With The Lithoprint Company

Monday, June 11, 2007

Press release from the issuing company

June 8, 2007 -- (AUSTIN, TX) Two of Austin’s largest commercial printing companies have joined forces to create Austin's most comprehensive provider of printing, copying, mailing and related business services. In a transaction to be finalized by May 31, 2007, Ginny's Printing is merging with The Lithoprint Company.

“The combination of Ginny’s and Lithoprint will not only make us Austin’s largest printing company,” said Michael Martin, President of Ginny’s, “but will allow us to serve the most diverse customer base with the widest service offering in the marketplace.”

Martin added, “Lithoprint brings years of experience and tremendous craftsmanship in commercial printing to Ginny’s.” “My immediate reaction to Ginny’s offer to merge was very positive,” said Loren Nyer, President of Lithoprint. “Our industry is moving in a direction that Ginny’s has already conquered. Their digital capabilities combined with our offset expertise will make us a very strong competitor.”

Ginny's currently has 190 employees and operates a 88,000 square foot facility in northeast Austin. Lithoprint employees number 35 and the company has a 35,000 square foot facility in south Austin.

Both companies have a long history. Ginny’s was founded in 1971, Lithoprint in 1939. For now, the two companies will retain their names and will continue to operate in their existing locations.

“I don’t anticipate any major changes to the Lithoprint operation for the next year,” Martin said. “All employees will keep their jobs. Quite honestly, the opportunity to inherit the team of employees at Lithoprint was a major factor in the decision to go forward with the deal.”

Together, Ginny’s and Lithoprint have 16 offset printing presses that range from 2-color to 8-color. Ginny’s has one of the nation’s largest fleets of Xerox Docutech digital black and white copiers and two iGen3 digital color printers. Ginny’s service portfolio includes variable data printing, mailing and fulfillment.

Robert “Skip” Fowler, Clarke Heidrick (Graves, Dougherty), and Jack Selman (Selman, Munson & Lerner) provided legal assistance to the parties. Business consultant Bill Crowley of Hardie & Crowley was responsible for bringing the parties together. Clay Cary of Frost Bank provided financing for the deal.




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