Printing Arts America Begins Acquisitions
POMPANO BEACH, FL—Printing Arts America (PAA), the Westport, CT-based financial rollup, will acquire AIM Riverside Press, based here, its first acquisition since it hired former Donnelley executive Terry Tevis as its president and CEO.
"AIM Riverside fulfilled two criteria very important to us," Tevis explains. "It was well-managed and profitable; and has the physical capacity to grow." AIM Riverside will become the 'hub' for the South Florida market," he adds, noting that discussions are under way with other nearby firms that would become "satellite" facilities.
Tevis says the management team at Riverside, headed by Oscar and Ike Abolafia, has "accomplished on a regional basis what we'd like to do nationally." Both Abolafias will remain in their current positions."