Allied Sparks EarthColor Buyout
NEW YORK—A $210 million commitment by Allied Capital of Washington, DC, has fueled the senior management-led buyout of EarthColor, a leading commercial printer serving clients in the pharmaceutical, telecommunications and financial services industries.
The management team made a significant equity investment in the company, acquiring a majority of the voting stock. EarthColor has eight plants overall, with production facilities in New York, New Jersey, Florida and Texas, and prepress operations in Arizona.
“We have known the Allied Capital team for some time now and are pleased to have them as our new financial partner,” notes EarthColor founder and CEO Robert Kashan.
“They have worked hard to understand our business. Their financial strength and grasp of the business combine to make them a true value-added partner as we position our company for the next phase of growth: building a national platform to better serve our customers.”
With 800 employees, EarthColor posted sales of $210 million for 2005.