Consolidated Graphics to Acquire the Cyril Scott Company
Tuesday, June 12, 2007
Press release from the issuing company
HOUSTON, June 11 -- Consolidated Graphics, Inc. announced today that it has signed a memorandum of understanding to acquire The Cyril Scott Company, headquartered in Lancaster, Ohio. The present management team, led by Leslie "Mac" McClelland, will remain with the company following the completion of the transaction.
The Cyril Scott Company, founded in 1959, is a commercial printing company with 18 heat set in-line finishing web presses that enable the company to offer a wide variety of sizes and capabilities to its diverse customer base. A recognized leader in the bind-in market, Cyril Scott produces multi-featured print products for the direct mail market including pop-up, pop-out, nested designs and kiss cut sticker options, as well as specialty laser labels and clean release cards. In addition to being AIB and FDA accepted, Cyril Scott provides high-security printing, producing gaming devices, coupons and collectibles.
"The employees of Cyril Scott have built an impressive company with unique capabilities," commented Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics. "We are very excited about the opportunity to expand our presence in the Midwest by acquiring a company known for its creativity and an innovative spirit that is always striving to expand its capabilities in order to better serve its customers."
"This acquisition is another example of a key element of our growth strategy -- to expand our geographic footprint and market leadership position through the strategic acquisition of high quality, well managed companies that enhance the solutions we can offer our customers," continued Mr. Davis. "We have created a very powerful model for long-term growth in sales and profits by combining the operating strengths of the companies we acquire with Consolidated Graphics' considerable strategic and economic advantages."
Also commenting on the announcement, Mr. McClelland said, "I have followed the growth of Consolidated Graphics with interest and feel that this combination will ensure the continuation of Cyril Scott's reputation for excellence in the marketplace and will offer our employees an opportunity for continued growth and development."