CGX Swings Major Deal for Hennegan
HOUSTON—After briefly flirting with the idea of selling the company, Consolidated Graphics (CGX) decided that staying the course would be the most appropriate course of action. CGX has once again proven it is willing to resume business as usual by announcing plans to acquire The Hennegan Co., which is based in the Cincinnati suburb of Florence, KY.
CGX signed a letter of intent to acquire Hennegan, an $85 million web, sheetfed and digital printer that produces a wide array of high-end products, including marketing materials, annual reports, brochures and catalogs, among other things. The transaction is expected to be completed within the next 90 days.
“Bob Ott Sr., Bob Ott Jr., Kevin Ott and the employees of The Hennegan Co. have built a world-class business with a longstanding reputation as a premier printing company by investing in new technologies, equipment and infrastructure,” noted Joe Davis, CGX chairman and CEO.
The day-to-day management team of Bob Ott Jr., Hennegan president and CEO, and Kevin Ott, vice president, will remain with the company following the transaction. Bob Ott Sr., Hennegan’s chairman and a past PRINTING IMPRESSIONS/RIT Printing Industry Hall of Fame inductee, will also stay on board.