SpringDot buys Steinhauser printing division
Business Courier of Cincinnati - by Dan Monk Senior Staff Reporter
Cincinnati printing company SpringDot plans to add up to seven employees and grow revenue to $8.5 million with the acquisition of two divisions of Steinhauser, a Newport-based competitor.
Terms of the purchase were not disclosed. For Camp Washington-based SpringDot, a 105-year-old company owned by the Deutsch family, the deal includes the purchase of a new machine that creates resealable envelopes used in direct-marketing campaigns. It brings to $3 million the amount spent on new capital investments by SpringDot in the last several years.
“We’re hoping it adds 10 to 20 percent onto our total revenue,” said Josh Deutsch, SpringDot’s president.
For Steinhauser, established in 1905, the deal allows new investments in its most profitable division: Packaging Print Solutions. Steinhauser made major capital investments in that division in the last two years, including the purchase of a new Comco press in 2006.
“We owe it to ourselves to be strategic about the direction of this company,” said Steinhauser President Tara Steinhauser Halpin. “That means devoting all of our resources where we have the technology and equipment to best compete and grow."
Latest News |
Most Viewed Stories |
Most Emailed Stories |
