Consolidated Graphics to acquire Kelmscott Communications

Feb 2, 2005 4:40 PM

Consolidated Graphics, Inc. (Houston) has signed a definitive purchase agreement to acquire Kelmscott Communications LLC (San Francisco), a privately-held provider of commercial printing services in five Midwest and West Coast states with annual sales of $100 million.

Kelmscott's services include web, sheetfed and digital printing, finishing, warehousing, fulfillment and online print procurement tools. Its customer base is composed of many of the leading companies in its operating regions. The Kelmscott companies are Anderson Printing in Hollywood, CA; CDS Publications in Medford, OR; Maximum Graphics in Minneapolis, MN; Orange County Printing in Irvine, CA; Printing Control Graphics in Seattle, WA; Spangler Graphics in Kansas City, KS; and Watermark Graphics in San Francisco, CA.

Consolidated Graphics will use available capacity under its revolving credit facility to complete the transaction, which is expected to be immediately accretive to its earnings. Other terms of the transaction were not disclosed. Completion of the transaction, which is subject to certain conditions and the approvals of the Boards of Consolidated Graphics and Kelmscott, is expected to occur in March 2005.

Consolidated Graphics chairman and CEO Joe R. Davis says, “[The Kelmscott companies’] breadth of capabilities and outstanding reputation for customer service will complement our existing operations and further expand our national footprint and scope of services. We welcome the dedicated Kelmscott employees to our team and look forward to working with them and their outstanding group of customers.”

James D. McBride, CEO of Kelmscott, adds, “Combining the outstanding qualities of the Kelmscott companies with the considerable financial and operational resources of Consolidated Graphics provides an excellent platform from which to advance the growth and success of the seven companies that make up Kelmscott and, importantly, Kelmscott's customers and employees.”

Consolidated Graphics, Inc.’s network of printing companies in 25 states produce customized printed materials for companies across the country. Consolidated Graphics also offers digital and Internet-based services and solutions marketed through CGXSolutions.

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