Timeline
Acquisition and Disposition Strategy:
- Acquire core businesses operated by existing management teams
- Strengthen and expand existing businesses to create additional free cash flow
- Sell existing businesses or verticals when the selling price is favorable and will strengthen our financial position and flexibility to acquire new businesses
M&A History:
- Acquired Faneuil and Phoenix between 2013 and 2015 for approximately $140.0 mm
- Acquired three add-on businesses between 2016 and 2017 for approximately $30.0 mm
- Acquired an additional add-on business in 2019 for $2.5 mm with an additional $7.5 mm in earnouts
- Divested core businesses in 2021 and 2022 for approximately $275.0 mm
- Used cash on hand for investments and $20.8mm purchase of new operating business.
2013
Acquired Faneuil ($53.0 mm)
2014
Acquired Carpets ($5.0 mm)
2015
Acquired Phoenix Color ($88.3 mm)
2016
Color Optics ($6.6 mm)
(Phoenix Color add-on acquisition)
2017
Customer Management Outsourcing ($12.7 mm)
(Faneuil add-on acquisition)
2017
Printing Components Business ($10.0 mm)
(Phoenix Color add-on acquisition)
2019
Realtime Digital Innovations ($10.0 mm)
(Faneuil add-on acquisition)
2022
Divested Faneuil’s Government Healthcare and Transportation verticals ($142.3 mm)
2022
Divested Phoenix Color ($136.4 mm)
2022
Investment in Hallador Energy ($10.0mm)
2022
Acquired 80.01% of Ranew’s ($20.8mm)