Unique Reverse Tuck-In: Smaller Printer Grows by Acquiring Larger Shop's Facility and Equipment
PHILADELPHIA - August 14, 2018 - New Direction Partners, the leading mergers & acquisitions resource for the printing and packaging industries, today reported it represented Kenosha, Wisconsin-based Badger Press/Photographics, Inc., in a unique transaction wherein the assets of the firm were acquired by Brookstone Printing in a reverse tuck-in. Brookstone Printing, while smaller, was a rapidly growing printing facility looking to expand its capabilities. Merging with Badger, and acquiring the Badger facility and equipment, made for an ideal way to implement their future goals.
Clyde Bundies started the Badger Letter Shop in 1938 in the midst of the Depression. The business was being run by the third generation of Bundies, brothers Todd and Timm, who were seeking an exit strategy after the untimely passing of their father, Dick Bundies. Timm will be remaining with the business in a sales capacity, while Todd will be pursuing other opportunities.
“While this transaction took a little longer than we had anticipated, it was worth the wait,” said Timm Bundies. “The most important thing for my brother and me was we wanted to find a buyer that would keep the business intact. We owed it to our father, and to all the employees, most of whom have been loyal to us for decades. Todd and Brian of Brookstone understood the tradition we have built here, because they have quite the family printing history themselves. We are thrilled with the Brookstone transaction and with the important role that Al Reijmer of New Direction Partners played in finding a buyer and concluding the transaction. I am looking forward to working with owners Todd Moser and Brian Mayr, who have more than 60 years of printing experience between them, as we take the combined business into the future. Brookstone Printing has been in business since 2006.”
“This was an unusual transaction,” said Al Reijmer, a Director at New Direction Partners. “While it had its challenges, as many transactions do, we were able to come to an agreement that allowed both parties to achieve their objectives and to position the combined company for a bright future. Even with a facility move, a distance of about 60 miles, the majority of Brookstone employees will stay on board. I’ve known the Bundies family for more than 30 years. I’m delighted I was able to help them take this important next step.”
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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 Printing Impressions.