Ennis Acquires Printing Technologies (piworld.com)

Quad/Graphics, Inc. announced that it has completed the ninth amendment to the Company’s April 28, 2014, bank debt agreement to: (1) reduce the aggregate amount of the existing revolving credit facility from $342.5 million to $324.6 million, and extend the maturity of a portion of the revolving credit facility such that $17.7 million under the revolving credit facility will be due on the existing maturity date of November 2, 2026 and $306.9 million under the revolving credit facility will be due on October 17, 2029; (2) extend the maturity of a portion of the existing term loan facility such that $14.5 million of such term loan facility will be due on the Existing Maturity Date and $351.3 million will be due on the Extended Maturity Date; (3) make certain adjustments to pricing, including an increase of .50% to the interest rate margin applicable to the loans maturing on the Extended Maturity Date; and (4) modify certain financial and operational covenants. Tony Staniak, Quad Chief Financial Officer, said: “We are pleased to have completed the amendment and extension of our $690 million bank debt agreement, which extends the maturity to October 2029, due to our strong relationships with a syndicate of premier banks and our disciplined financial management. By the end of 2024, we anticipate we will have reduced our debt by over $670 million, or 65%, from January 1, 2020, and we will continue to focus on debt reduction with our capital allocation. This debt extension provides us with additional financial flexibility to focus on the growth and development of our offerings as a marketing experience company while returning capital to our shareholders.”

SG360°, an industry-leading provider of performance-driven direct marketing solutions, announced that effective immediately, the SG360° Board has appointed Edward (Ed) Carroll permanent President and Chief Executive Officer. Mr. Carroll assumes these responsibilities from Interim CEO James (Jim) Andersen. Prior to his appointment as CEO, Mr. Carroll was Chief Financial Officer at SG360°, having joined SG360° in September of 2021. Prior to SG360°, Mr. Carroll held positions as CEO and CFO in a variety of industries, including manufacturing, distribution, and technology. He began his career as an officer in the United States Navy. Mr. Carroll is a graduate of the United States Naval Academy and earned his MBA at the University of Chicago. He is a CPA and a Lean Six Sigma Black Belt.

Transcontinental inc. announces an important milestone in its sustainability journey. The Science Based Targets initiative (SBTi) has approved TC Transcontinental’s near-term science-based emissions reduction targets. From now on, these targets will serve as TC Transcontinental’s primary measurement of progress on its sustainability objectives, including energy efficiency, clean energy procurement, and the commercialization of sustainable packaging solutions such as recycle-ready packaging solutions as well as the integration of post-consumer resin (PCR) into packaging products. “We are now in a better position to support our customers on their own sustainability journeys, and better suited to focus our actions on what matters the most to fight climate change,” said Alex Hayden, Senior Vice President, R&D, Sustainability and ESG, TC Transcontinental. “As an industry leader in Packaging, Retail Services and Printing, we know our stakeholders expect us to mitigate climate risks while capitalizing on growth opportunities. We believe this new commitment is fully in line with those expectations.”