C. Stephenson Gillispie

BY ERIK CAGLE It didn't take long for C. Stephenson Gillispie Jr. to appreciate the importance of swift and certain decision making. On one occasion, his life and those of several other people depended on it. Gillispie developed a love of flying in his twenties. During that period, he was piloting a single-engine aircraft out of St. Thomas, in the U.S. Virgin Islands, when the engine stalled at 600 feet during takeoff. It would take approximately one minute for the plane to return to earth. He had three landing options: a mountain on the left, the town straight ahead and a bay on the

EASTON, PA—Richmond, VA-based Cadmus Communications has acquired The Mack Printing Group, based here, and its subsidiaries. Mack is a $165 million producer of journals, magazines and periodicals. The purchase price was approximately $200 million in cash, seller-provided subordinated debt and Cadmus common stock. Cadmus officials say this acquisition continues its strategy of creating leadership positions in select, niche markets. The addition of Mack increases Cadmus' annual revenues by more than 40 percent and solidifies its position as the world's leading producer of scientific, technical and medical (STM) journals. The acquisition brings to Cadmus new capabilities to better serve the fast-growing "short-run" segment of

With its recent acquisition of the Mack Printing Group tucked away, Cadmus looks to conquer greater territories in select, niche markets—with an eye on journals, magazines, periodicals and packaging. What is the vision behind Cadmus' strategic plan? C. Stephenson Gillispie Jr. offers a few clues. BY MARIE RANOIA ALONSO THE START of Spring marked the start of what may be the most lucrative of years for Cadmus Communications, which, on April 1st, announced it had acquired Mack Printing Group—a leading producer of journals, magazines and periodicals with annual revenues of approximately $165 million—for the purchase price of approximately $200 million, consisting of cash,

RICHMOND, VA—Cadmus Communications has agreed to sell its Financial Printing and Custom Publishing divisions. Cadmus officials say these divestitures are part of an ongoing strategy to streamline its business units and focus its resources in select niche markets that the company believes to be poised for aggressive growth. Commenting on the divestitures, C. Stephenson Gillispie Jr., Cadmus' chairman, president and CEO, notes: "For Cadmus, these transactions mark a new milestone in our strategy to create leading businesses in select niche markets. We are narrowing our focus and concentrating our resources on our key markets—professional communications, specialty pack- aging, point-of-purchase and marketing services—in an

More Blogs