Business News

St Ives Completes Acquisition of U.S. Operations

Thursday 22. January 2009 - The management team of St Ives US, one of America's leading digital, sheet-fed and web offset printing companies, has completed the acquisition of the U.S. division from its parent, St Ives plc in London, England.

“The U.S. facilities are now owned by the Angstrom Group,” says Wayne Angstrom, St Ives US chairman and CEO. “We have purchased the entire company including St Ives Florida, St Ives Cleveland, St Ives Creative and St Ives Market Direct.”

Angstrom says the company will continue operations in Hollywood and Cleveland, Ohio. The company plans to re-brand the creative, graphic and fulfillment operations with new names within the next 12 months as well as enhance the St Ives On-Line’ suite of application systems.

“We remain dedicated to our customers, employees and vendors and will continue to improve our business and service to clients,” says Angstrom. “We have invested in manufacturing platforms that present flexibility and economies to our customers that will take us into the future.”

The total price of the acquisition was $39 million. Carl Grassi of McDonald Hopkins LLC of Cleveland served as the lead attorney for the transaction. Brown Gibbons Lang & Company is the investment banker.