Corporate Press Signs Agreement to Acquire McArdle Printing Assets; Will Relocate There
Corporate Press, an employee-owned commercial printer based in Lanham, Md., has entered into an agreement to acquire certain assets of McArdle Printing, of Upper Marlboro, Md., from its current owner, Bloomberg BNA. The sale includes McArdle's existing account base and some of the equipment.
“We expect the transaction to close on September 30, after which Corporate Press and its subsidiary, ColorCraft, will consolidate their current 72,000-sq.-ft. Maryland and 42,000-sq.-ft. Virginia operations into McArdle’s existing 131,000-sq.-ft. facility," explains Michael Marcian, president of Corporate Press. Together, Corporate Press and Sterling, Va.-based ColorCraft of Virginia (which it acquired from the late James Mayes in 2012) comprise a total of 140 employees.
Marcian told Printing Impressions he anticipates that the consolidation will be completed by the end of the year, and that it won't require Corporate Press workers to relocate since the new Upper Marlboro location is only about 10 miles away. "We will also undergo a region-wide recruiting effort to add valuable members to our expanding team," he reveals.
In order to consolidate the three separate names, the combined company will now be branded as Corporate Communications Group. "Our new name demonstrates continuity with our past, while capturing our philosophy, the new vision and the energy of the combined organizations,” according to Marcian.
“This acquisition highlights Corporate Press’ strategic vision to significantly expand our market footprint and deliver additional value to our customers through the scale and synergy of the three organizations.”
Corporate Press serves the Washington, DC, and mid-Atlantic region with commercial and digital printing, direct mail, and agency services, as well as e-commerce and fulfillment solutions. The acquisition of McArdle will give it expanded capabilities and a larger customer base.
New Direction Partners represented McArdle and Bloomberg BNA in the transaction.