Brady Corp. acquires Massachusetts company
Brady Corp. announced it has acquired Comprehensive Identification Products Inc. (CIPI), a Burlington, Mass.-based provider of badging accessories used to identify and track employees and visitors in a variety of settings, including businesses, health care facilities and government buildings.
CIPI’s products include lanyards, badge reels, badge holders, strap clips, neck chains, luggage tags and badging equipment such as card printers, software and supplies. The business had sales of approximately $31 million in fiscal 2005 and employs 900 people at operations in the United States, Netherlands, Hong Kong and China.
Financial terms of the acquisition were not disclosed.
“CIPI fits well in our strategy to grow our people identification offering. As a recognized leader in the industry, CIPI brings a national sales force and established global distribution channels as well as an international manufacturing base to help us best serve customers looking for the most efficient ways to identify and track employees and visitors within their facilities,” said Tom Felmer, vice president at Milwaukee-based Brady Corp.
Quad/Graphics acquires Nevada company
Quad/Graphics Inc. announced it has purchased Craftsman Press West, a privately held commercial printer in Reno, Nev.
The acquisition expands Quad/Graphics’ geographic capabilities to the West Coast, giving it a competitive position in every region of the country.
“Through this acquisition, we have fine-tuned our domestic printing and distribution network,” said Joel Quadracci, Quad/Graphics president and chief executive officer. “Now, clients on the West Coast can take better advantage of our brand of timely, top-quality print services.”
The Craftsman Press West facility becomes Quad/Graphics’ 10th printing plant, joining the company’s other facilities in Lomira, Hartford, Pewaukee, Sussex and West Allis, Wisconsin; Saratoga Springs, N.Y.; Martinsburg, W.V.; The Rock, Ga.; and Oklahoma City, Okla.
The Reno location near the Nevada-California border provides Quad/Graphics with expedited distribution of product to major cities throughout the Western United States, including San Francisco, Los Angeles, San Diego, Las Vegas, Salt Lake City, Seattle and Phoenix.
The acquisition will not create additional capacity for Quad/Graphics, Quadracci said. Quad/Graphics will replace Craftsman Press West’s existing presses with newer, more technologically advanced presses already in use at other Quad/Graphics facilities.
“These presses are made available as a result of our companywide platform transformation from 32-page presses to 64-page presses over the past three years,” Quadracci said.
“This acquisition provides fresh and exciting opportunities for both new and existing clients,” said Diane Hatch, a 36-year employee who also was an owner of Craftsman Press West. Since April, Hatch has served as the company’s principal executive, taking over for George Prue, who died unexpectedly after leading the company for many years. “We look forward to continuing our long-standing tradition of personalized customer service and quality as part of the Quad/Graphics family,” Hatch said. Hatch will stay with Quad/Graphics in a sales and marketing role and will be key to promoting the Reno plant’s future growth, Quadracci said.
“We look forward to welcoming Craftsman Press West employees into the Quad/Graphics family,” Quadracci said.
Actuant completes acquisition of Actown
Glendale-based Actuant Corp. announced it has completed the purchase of all of the outstanding stock of Actown-Electrocoil Inc. for approximately $24 million in cash.
Funding for the acquisition was provided by borrowings from Actuant’s revolving credit facility.
Actown, headquartered in Spring Grove, Ill., generated $36 million of sales in 2005 and has about 300 employees. The company’s products include custom transformers, coils, neon transformers and LED lighting systems.
Actown will become part of Actuant’s Tools & Supplies Segment.
Mark Goldstein, executive vice president of Actuant, said, “Actown is a great addition to our professional electric product line, which also includes Amveco and Acme Transformer. Actown’s focus on the OEM customer base within the magnetics and sign markets is an excellent complement to our existing businesses.”
Goldstein said Actown’s management team will be retained.
