Colville Helps CGX Compete On M&A Circuit --Cagle
"I honestly felt, at some point, Chris would return to the printing industry and eventually be the president of some company," DeWese says. "Chris is a deal-maker—intelligent and methodical. He knows M&A about as well as anybody I know."
Colville was a natural choice for CGX to strengthen its senior management team, DeWese adds. The statement CGX makes with the move is obvious—the M&A climate is becoming favorable. Like the aforementioned sport, M&A is a game not everyone can play well enough to make a living.
"It depends on who has the strong balance sheets," Colville explains. "There aren't too many companies that have them. Consolidated Graphics is one, Moore is another. The companies that have good balance sheets now are fewer than the amount when I left Consolidated Graphics (in 2000).
"The recession has taken a lot of steam out of acquisition multiples," Colville adds. "There will be a lot more M&A activity in the near future, but it will be concentrated among a smaller group of companies."
Optimism is truly everywhere.
By Erik Cagle