Many in the industry know John Helline as the owner of Finish Line Binderies in Cleveland, Ohio, and BindTech in Nashville, Tenn. However, what you may not know is that as a partner in the investment firm, Signet, he actively invests in other industries beyond print. John generally prefers to stay out of the spotlight, so my video interview idea was a no-go, but I am truly grateful for his willingness to weigh-in (off-camera) regarding where he sees opportunity in the business of bindery. I found his perspective to be insightful and refreshing, and I think you will, too.

Trish Witkowski: From an investment standpoint, what do you find attractive about bookbinding as a business investment?
John Helline: All of our investment targets are an opportunity, from one perspective or another. The opportunity might be the lack of a succession plan; the fragmented nature of the industry (which creates plenty of merger and acquisition strategies); or, it may be disruptive technologies creating new pressures on traditional industries. All of these, and more, are factors in the bindery segment. From a macro view, it is a mature industry facing extraordinary challenges including alternative media, cheaper offshore options, a declining skilled workforce, an inefficient supply chain, and overall declining volume. But as I alluded, these challenges present opportunities such as applying new technology and new, creative approaches to solving problems—this is when it gets fun. The interesting and attractive aspect to bindery, specifically, is that it continues to offer the highest value, least commoditized element within the book production chain, in the face of increasing commoditization of book production in general. Encouragingly, the desire to publish and provide content is expanding. And, while the methods for distributing content also expand, physical books and the quality and variety of quality bindery methods are still valued.

Our business investments afford us so many touch points from publishers to printers to related suppliers. In fact, in addition to our bindery investments, we also own PSSC which is a warehouse and fulfillment company providing services to book publishers. Our success relates to our ability to carve out the appropriate niche within a series of touch points where we can flourish and dominate the space.