Quebecor World Buyout Creates Two New Printers
MONTREAL—After months of speculation as to the fate of the Quebecor World sheetfed and specialty printing platform, two management buyouts of its non-core companies has led to the creation of Grafikom L.P. and MATLET Group.
The Grafikom group, led by Aivars Beikmanis—former president of the Quebecor World Specialty Group—will pay roughly US$44.4 million, subject to certain adjustments, for the network of six sheetfed, digital and specialty printing operations. The combined sales of the six entities is more than US$83 million.
Grafikom and Quebecor World will maintain a working relationship. Grafikom will supply sheetfed and specialty printing to Quebecor World customers. In return, Quebecor World will furnish full-web printing and in-line finishing capabilities to Grafikom clients.
Based in Toronto, Grafikom is comprised of six facilities located in Canada, the United States and Mexico. Aside from the Toronto headquarters, two plants are located in the province of Alberta (Calgary and Edmonton) and one in Quebec (Sherbrooke). The lone U.S. plant is in Carlsbad, CA, and the Mexican facility is located in Guadalajara.
The MATLET Group purchase price was US$70 million. The companies comprising it are Acme Printing of Wilmington, MA; Central Florida Press of Orlando, FL; Packaging Graphics of Pawtucket, RI; Nova Marketing Services of St. Louis; and Premedia Services of Detroit. The companies have combined annual revenues of more than $135 million.
MATLET Group will be led by Gary Stiffler, president and CEO, who formed the new printing company with two private investors. Stiffler served as executive vice president of Quebecor World's commercial group.