Angstrom Leads Buyout of St Ives U.S. Division
HOLLYWOOD, FL—Wayne Angstrom, chairman and CEO of St Ives U.S., is heading the management-led buyout of the division from St Ives plc of London. The deal is valued at $39 million, of which $34 million in cash will be paid upon completion. The consideration also includes a $5 million secured promissory note. The deal is expected to be completed January 21.
St Ives U.S. focuses on magazine printing, general commercial work, and the supply of point-of-sale marketing materials. It employs 564 people at facilities here and in Cleveland.