Canfield & Tack Acquires Dellas Graphics
Wednesday, November 14, 2012
Press release from the issuing company
NAPL M&A Team Brings Owners Together, Advises on Strategy
East Rutherford, N.J. - The National Association for Printing Leadership (NAPL) has announced that Canfield & Tack in Rochester, N.Y., has acquired Dellas Graphics (Dellas), located in Syracuse, N.Y. Tom Dellas, sole owner of Dellas Graphics, will join the Canfield & Tack management team as Central New York Regional Director of Business Development and Acquisitions. Details of the transaction were not disclosed.
NAPL, serving as Canfield & Tack's strategic M&A advisor, counseled on the transaction price and structure and prepared the letter of intent for the transaction. Senior Vice President John Hyde, head of NAPL's Mergers and Acquisitions Advisory Team, stated, "The transaction is a great example of two successful companies coming together in a way that maximizes value for both."
Canfield & Tack will extend its geographic reach deeper into the Syracuse marketplace and significantly expand production capabilities with the addition of the Dellas operating facility. Projects will be produced at either the Rochester or Syracuse location, based on the optimal mix of equipment and capabilities. Dellas customers will benefit from greater printing capacity; in-house die cutting, folding, and gluing; and online print management services.
Canfield & Tack Chairman Ray Brown shared, "We're extremely pleased to have Tom as part of the management team because of his 30 years of experience as a business owner, as well as his knowledge of the customers and the Central New York marketplace. We look forward to his contribution to the growth of the combined companies."
"I liked the fact that they are an ESOP [employee-owned company]," remarked Dellas, when asked what convinced him to become part of Canfield & Tack. "And we have gained the capabilities that allow us to go after a larger array of work." Dellas continued, "I liked the quality of their work, and the management group and their philosophy. They brought to the table procedural efficiency and the ability to implement cost savings, which benefits all our customers."
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