Standard Group acquires Whitmore Printing
Wednesday, March 09, 2011
Press release from the issuing company
Paramus, N.J. - The Standard Group, headquartered in Reading, Pa., has acquired Whitmore Printing of Lancaster, Pa., a combination that joins two highly respected printing names that have served the central Pennsylvania area for more than a century. Details of the "tuck-in" transaction were not disclosed. The NAPL Mergers & Acquisition Team conducted outreach services on behalf of The Standard Group.
"By using targeted research and leveraging our contacts, we identified potential candidates and initiated confidential communications designed to elicit preliminary interest in a strategic relationship with our client," said NAPL Senior Vice President John Hyde. "We provided written recommendations on valuing the intangible assets and on structuring the transaction so that our client was able to pay a fair price for gaining a significant customer base from the owners of Whitmore Printing."
Whitmore Owner Eric Whitmore, a member of the third generation to run the family company since its founding in 1873, will join The Standard Group. Whitmore Printing's operations will eventually be folded into The Standard Group's three Lancaster, Pa., facilities.
"The addition of Whitmore Printing strengthens TSG's market presence in Pennsylvania as we continue on our path of industry leadership," said Standard Group Chief Executive Officer Scott Vaughn. "Whitmore's customer focus fits perfectly with our vision and its talented staff will join TSG's exceptional employee team."
"Throughout our history, we have always prided ourselves on being a highly customer-centric business," said Whitmore. "By joining The Standard Group, we will be able to expand the product and service offerings available to our customer base. We made the decision to join TSG because of the values we had in common, our shared belief in always doing the right thing for our customer, no matter how big or small," he added. "I am excited and invigorated to become part of this industry leading company."
The $25 million Standard Group is a communication and creative content delivery partner that provides integrated communication solutions via new and traditional media. It offers the latest in personalized marketing and digital media communications solutions and mailing and fulfillment services. A nationally recognized leader in cross-media services, it also provides Web-to-print, variable data, and 1:1 marketing technologies for a global client base ranging from small, non-profit organizations to large Fortune 500 companies.
"We are pursuing aggressive growth and are thriving in troubled economic times by understanding our customers' needs and developing solutions for them," said Vaughn, citing as an example the value-added services of the company's nationally recognized cross media department. "By teaming with Whitmore Printing, we will now be able to extend our 21st century communications services to an even more diverse customer base."
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