Classic Graphics Deals for Harperprints' Assets
CHARLOTTE, NC—Classic Graphics has acquired certain assets of Henderson, NC-based Harperprints. Terms of the deal were not disclosed.
David Pitts, co-owner of Classic, believes that in an industry where many smaller companies are falling by the wayside and mid-sized competitors are consolidating to remain viable, this is a logical move.
“Classic has enjoyed tremendous organic growth over our 28-year history,” noted Pitts. “Combining operations with a prominent, industry-leading company like Harperprints will help us sustain, and hopefully extend, our growth ambitions.”
While Pitts did not reveal financial terms of the transaction, Classic’s sales for 2011 were approximately $50 million, and sales for 2012 are expected to be in the $55-$60 million range. The Triangle Business Journal reported that 22 of Harperprints’ 40 employees will join Classic’s Morrisville, NC, facility. Pitts told the newspaper he hopes to bring aboard more Harperprints employees in the future.
Mike Harper, president and co-owner of Harperprints, will assume the role of executive vice president, Triangle Division, in the combined company.