Ascent Partners' Richard Rasmussen, wraps up the tumultuous month of March in the local printing industry, with an overview of all the reported industry happenings including mergers, acquisitions and closures, as well as the latest major equipment installations and sales.
I said last month, that if there was a bigger news month in the industry, I’d like to know about (and no one rang). Well this month almost surpassed it.
The news is obviously headed by Geon. Following the February “receivership” announcement, in March it was announced:
- Geon Bankstown (NSW) – sold to Bluestar
- Geon (Mount Waverley) – sold to Bluestar
- Geon NZ – sold to Bluestar NZ
- Geon Labels (NZ) – sold to Bluestar NZ
- Geon WA – Management Buyout
- Geon TAS – Sold to Todisco family
- Geon ACT – sold to Opus
- (Geon QLD – was closed completely in Feb)
There was also an update on the Vega Press receivership – they are estimated to owe around $6.7 million, and with CPS, their administration left an estimated shortfall of $2.5 million.
Another large Melbourne Printer, BPA, also fell into the hands of the receivers in March.
What may have slid under the radar screen was the liquidation of End Print Solutions (NSW), Australian Print Solutions (VIC), Print Media and Publishing Group (NSW) and Kwik Kopy South Melbourne (VIC).
During the month we also saw Snap Perth announced as the purchasers of Snap Kalgoorlie.
On the supplier side:
- The PIA and GASAA (GASA) tied the knot and formally merged.
- Roland DG opened a new manufacturing facility in Thailand
- Canon started to build its new Sydney Headquarters
- Kodak moved closer to its Chapter 11 exit.
Major Equipment Sales and Installs:
Two of the major Digital players made some installation announcements:
- HP – Pemara (VIC) installed a new Indigo WS 6600 and Courtney Colour installed the region’s first B2 Indigo 10,000.
- Xerox – Sold an I Gen 4 EXP to Lotsa Printing (QLD) and installed an I Gen 4 at Kingswood Press (QLD).
Ricoh also announced the sale of a Ricoh Pro C901 to Industrial Printing Company (NSW).
PMP has also installed a in their WA Print and Distribution centre, a Ferag / In –Log mailroom system.
Roland DG rounded out the equipment stories with a Solijet 4 XR – 640 installation at DPod in Wellington.
Market Watch / Businesses for Sale.
For more details on these and other stories, please visit the Market Watch page on our website, www.ascentpartners.com.au. Here you can subscribe to the bulletin or download a PDF.
On this site you will also find seven print related businesses we have on the market. We have plenty of enquiries coming in for specific Australian businesses wanted, so please contact us if you are looking to sell or wanting your business appraised.