DeWese--Something to Say About M&A
Consolidated Graphics wants to make sure it has plenty of well-trained supervisors and managers to accommodate all the growth it expects to gain from salespeople. I'm sure that some of the other consolidators have similar management training programs or will be installing them shortly.
You ask, "What is causing all of this consolidation in the printing industry?"
You've finally asked a good question. Certain printing industry segments are highly fragmented. This means there are a multitude of competitors in the segment. There is an immutable economic force that eventually causes fragmented industries to consolidate. It has happened or is happening in many other industries, ranging from funeral homes to waste management companies to limousine companies.
Finally, you say, "Well there most be something really bad about all this consolidation."
Well, yeah. There is something really bad about it if you are a slug or a slacker or a company complainer.
Frequently, independent, family-owned companies are indulgent and put up with a lot of nonsense. These big public companies have little tolerance for ne'er-do-wells. So, on that note, all you slugs and slackers better put this magazine down and get out there real fast and start selling something!
About the Author
Harris DeWese is the author of "Now Get Out There and Sell Something!" published by Nonpareil Books. DeWese is a principal at Compass Capital Partners Ltd. DeWese specializes in investment banking, mergers and acquisitions, sales, marketing, planning and management services to printing companies. He is one of the authors of the annual Compass Report, the definitive source of information regarding printing industry merger and acquisition activity.