International Litho Acquires OMNI
Since OMNI and International Lithographing dovetail so well, no layoffs are expected. If anything, new positions may open.
"Because we are so complementary, we only envision growth as we expand the business at OMNI and at International Lithographing," Petrou says.
OMNI's management team will also remain intact. "One of the reasons I bought OMNI was because of the senior management team Jim Ribbelino [OMNI's CEO] built over the course of 22 years," Petrou explains.
He expects OMNI to generate $20 million to $25 million in sales this year and International Lithographing to draw $35 million to $40 million. He also expects to make other acquisitions—though he won't get into specifics. He will, however, describe the type of companies that appeal to Taconic.
Taconic is on the lookout for high-quality offset printers, laser production centers and lettershops with expertise, growth potential and demanding customers. Petrou says he works best with demanding customers.
"We've discovered our best customers tend to be the most knowledgeable about printing," he says. "They come to our companies because we are able to deliver the solution they need better than anybody I know."
By Jerry Janda