Caps Buys Schawk Units
By Graphic Arts Online Staff -- Graphic Arts Online, March 6, 2006
Premedia services provider The Caps Group, Chicago, acquired the educational product development, catalog, publication and New York-based advertising premedia operations of Schawk, Des Plaines, IL, for $29 million in cash. Annual revenue of the acquired operations is approximately $62 million. The deal, which closed Friday, makes Caps one of the largest independent graphic arts services providers in the U.S. with total revenue of approximately $80 million and more than 500 employees nationwide.
The acquired operations have facilities in New York, Illinois, Florida and Wisconsin.
The New York City-based operation, which provides creative retouching, digital imaging, content management and workflow management solutions for advertising agencies and publishers, along with entertainment and luxury goods clients, will be called HudsonYards. Diane Romano, who was president of the New York-based operation under Schawk, joins Caps as president and chief operating officer of HudsonYards.
The group of facilities in Crystal Lake, Evanston, and Pontiac, IL, Orlando, FL and Racine, WI, which was known as the Black Dot Group prior to being acquired by Schawk, will again operate under the Black Dot Group brand. Jerry Byrd, Sr., who served as group president for this operation under Schawk, was named president and chief operating officer of the Black Dot Group.
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