Mount Royal Printing Company, Inc. acquires Jarboe Commercial Printing
Thursday, November 19, 2009
Press release from the issuing company
Paramus, NJ - NAPL today announced that the Mount Royal Printing Company, Inc. of Baltimore, MD has acquired the sales assets of Jarboe Commercial Printing Company, Inc. of Washington, DC.
The announcement was made by John Hyde, NAPL Senior Vice President, who led the acquisition outreach initiative and structured the purchase transaction for Mount Royal. "This transaction allows Mount Royal to expand its customer base and sales opportunities with significant entrees into Washington, D.C., a market previously untapped by the Baltimore communications company."
"Over the years we had acquired a couple of small companies, so we knew that acquisition could be a viable strategy for growing sales in the current economic conditions," said Gary Cayce, President of Mount Royal. "We had wanted to increase our presence in Washington, and this seemed to be the year to put that plan into action."
Cayce is the third generation to take the helm of his family-owned company, which was founded in 1942. He is expecting sales of $7.5 million in 2010, with a sizeable portion of that total to be generated from a new sales office recently opened in Beltsville, MD. All of the manufacturing is being done in Mount Royal's existing facilities in Baltimore. The Jarboe plant has been closed.
Seven key employees were hired from Jarboe after the passing of its founder and president, William Jarboe. "Jarboe is a lot like us, a family-run printing company with similar types of customers. We've been in business 62 years; they'd been in business 73 years" added Cayce. "Everyone is energized about combining forces."
Upon the passing of Jarboe's founder, providing continuity for its clientele was important to his family. "Customer relationships are a printing company's most valuable assets," remarked Hyde. "They're perishable components, and must be well taken care of. When Jarboe was in transition, a primary concern was that a seamless process could be achieved."
Hyde identified various companies whose operational strategies and company culture were aligned with Mount Royal's business philosophy. "Of the 17 companies we communicated with, five expressed interest and it was quickly evident that Jarboe Printing would be the ideal fit. The process moved swiftly and smoothly from that point," he said. Initial communications occurred in June, 2009 and the acquisition was completed September 1.