Smart Source Announces the Acquisition of CTP Solutions
Smart Source Critical Communications, LLC announced that it has acquired certain assets of Agoura Hills, CA - based CTP Solutions ("CTP"). Smart Source Critical Communications, a subsidiary of Smart Source, LLC, is a leading data enablement delivery company, creating customized integrated solutions in multiple vertical markets, throughout North America.
"We are delighted to announce this acquisition as an expansion of our business in the Critical Communications market specifically the AR management sector", said Tom D'Agostino, Jr., CEO of Smart Source based in Palm Beach, FL. "CTP has been a great and well-respected company for many years and maintains a dominant position in the online and traditional print mail industry. Like Smart Source, CTP has a long and rich history of managing their clients' print spend on an enterprise level delivering year-on-year value and brand control.
CTP's owner Jack Schachtel commented "CTP Solutions is very excited to be acquired by the leader in our industry, Smart Source. After 35 Years of growth and success, joining Smart Source is a perfect next step for our customers and employees. Smart Source has the right formula that matches CTP Solutions objectives today and for the future. Both Smart Source and CTP Solutions have a hardworking professional culture.
This acquisition will enhance our operational strength and double our division's revenues by adding expertise to our already significant presence in North America", said Scott Thenell and Todd Norton, Co-Presidents of Smart Source Critical Communications. "Bringing CTP into our Smart Source family enhances our ability to deliver completely customizable solutions for our clients data delivery needs. The synergies between our companies in new verticals, will enhance our market deliverables, while we continue to offer best in class solutions, and best in class employment opportunities."
The purchase of CTP is the latest in a series of acquisitions for Smart Source and will increase annual sales to approximately $250MM on a forward 12-month basis. CTP Solutions name will continue to be used post-closing, but as a "Smart Source Company" for the short term.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within may not directly reflect the thoughts or opinions of the staff of Printing Impressions.
