GAA Announces Sale of Page 1 Printers to CherryRoad Media
Graphic Arts Advisors (GAA), a leading M&A advisory and consulting firm serving the printing, packaging, and graphic communications industries, is pleased to announce the recently completed sale of Page 1 Printers in Slayton, Minnesota to CherryRoad Media. GAA was engaged by Page 1 Printers to find a buyer that would continue to service their customer base and energize the workforce at the seller’s manufacturing facility.
“After 45 years of growth and expansion serving the newspaper, publication and general commercial print and mail markets, we were ready to find a buyer whose interests aligned with ours,” Jim Keul, Page 1 Co-Owner and General Manager shared. “After looking at several opportunities, CherryRoad felt like the best fit not only for our customers but also for our employees. We are pleased to know that our efforts to find the right buyer will continue to serve the staff and our clients’ needs for years to come.”
Michael Wurst, Director, Graphic Arts Advisors, was the lead M&A advisor on behalf of the seller. “Geography made this a challenging assignment. Being in rural southwestern Minnesota meant the universe of potential buyers was not large. We were delighted to be able to put Page 1 and CherryRoad together and I believe that we could not have found a better strategic fit. This is a true win/win scenario!”
“The owners’ willingness to invest personal resources into the company at the right time was a critical success factor,” said John Hyde, Esq., Managing Director – Special Situations, Graphic Arts Advisors. “The seller’s strategic options would have been more limited without the owners adding gas to the tank. Given the geographic limitations in finding a buyer, extra miles on the journey were needed to sell the business in place as a going concern.”
Jeremy Gulban, Chief Executive Officer at CherryRoad felt this opportunity was in line with their growth strategy. “This acquisition adds to our portfolio of serving the newspaper and commercial printing space, expanding our presence in the Midwest. We look to continue to serve smaller markets with relevant, local news using print while growing complementary digital platforms. Page 1 Printers has a robust equipment and capabilities list that will allow our 83 newspaper titles to produce and mail a variety of multi-page, glossy publications ourselves.”
Source: Graphics Arts Advisors
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.
