Cenveo Acquires ColorGraphics
Headquartered in Stamford, Ct., Cenveo has completed its previously announced purchase of Los Angeles-based Madison/Graham ColorGraphics, one of the largest printers in the western United States.
“During my business career, I have completed 59 acquisitions by implementing a low-cost producer business model by reducing purchasing costs and eliminating duplicative costs,” said Robert G. Burton, Cenveo’s chairman and CEO. “All of the acquisitions that I have been associated with have been accretive, and I feel very confident that we will be able to complete future deals with financing at a reasonable cost that will allow us to continue to acquire strong companies in higher growth segments of our industry. We have consistently delivered our quarterly financial commitment to our shareholders using this same business model starting in 1991 at World Color, then at the Moore Corporation, and now Cenveo.”
Burton also announced several changes designed to add leadership and financial strength to various parts of the organization.
Sean S. Sullivan will be promoted to the newly named position of president of Cenveo’s commercial and packaging operations. Formerly a senior executive at the Moore Corporation and the Burton Management Group, Sullivan is responsible for the day-to-day operations of Cenveo’s commercial and packaging businesses, which currently comprise more than one billion in revenue. “Now that the ColorGraphics acquisition has been completed, we expect that the commercial and packaging markets will become a significant focal point for our future acquisition efforts,” Burton observed.
Burton also announced the appointment of Mark S. Hiltwein as Chief Financial Officer. A printing industry veteran, he has successfully performed in many financial positions over the past fifteen years, including the positions of controller and CFO. Hiltwein joined the Moore Corporation in Dec. 2000 as controller, and later became CFO and reported directly to Burton as CEO and chairman of the Moore Corporation.