GAA Announces Sale of Richardson Communications to Kingston Printing (whattheythink.com)

Kansas City, MO-based Richardson Communications Group, a leading printer in the Midwest for nearly a century, has been acquired by Kingston Printing, Eudora, KS, which recently celebrated its 30th anniversary as a premier, independent commercial printer. Graphic Arts Advisors, LLC (GAA), Mountain Lakes, NJ, a strategic financial advisory and consulting firm devoted exclusively to all sectors of the graphic communications industry, represented Richardson in the transaction. GAA Director Michael Wurst served as lead advisor on the engagement, with Mark Hahn, GAA Senior Managing Director, providing support. John Hyde, Esq., GAA Managing Director, is advising Richardson on the post-sale wind-down and creditor settlement negotiations.

Combining Richardson’s customer relationships and capabilities with Kingston’s operations creates a full-service, robust company offering clients a broad spectrum of printing and marketing services. With similarities in terms of 2019 sales volume ($5.2 million for Richardson and $6 million for Kingston) and number of employees (Richardson with 35 and Kingston with 36), the two firms had different areas of specialty and equipment. Kingston will now incorporate Richardson’s client-branded online storefronts and materials fulfillment services, a 40-in. perfector, and a 40-in. flatbed die cutter. Richardson’s customers can now benefit from Kingston’s expertise in direct-mail marketing, variable data printing, and wide format printing. The going-forward organization will operate out of Kingston’s company-owned Eudora plant with a new separate facility to house Richardson’s robust fulfillment services.

Jim Barker, Richardson owner, joins Kingston as Executive Vice President and is helping with transitioning Richardson’s customer base to Kingston. About 75% of Richardson’s staff is now employed by Kingston. Barker found positions in other companies for most of the remaining employees. “It was important to me to provide continuity for my staff,” he noted.
more at source: http://whattheythink.com/news/101627-gaa-announces-sale-richardson-communications-kingston-printing/?utm_source=newsletter&utm_medium=email&utm_campaign=daily

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