Consolidated Graphics Acquires Certain Assets of NAPL Member-Client Modern

Consolidated Graphics, through its wholly-owned subsidiary, AGS Custom Graphics, has acquired certain assets of NAPL member-client Modern International Graphics, Inc. and Modern Logistics, Inc. The transaction was announced by Consolidated on February 1, but I've been too busy with other front burner client matters to write this blog post until now (sorry).

The business advisory team at NAPL headed by Tim Fischer and I provided Modern with objective, industry-specific advice on valuation, restructuring options, and communication issues. This "behind the scenes" role helped Modern CEO Dave Margiotta to efficiently navigate the M&A process and make critical decisions.

In my view, the CGX-Modern transaction is significant to owners of print and graphic communications companies because it validates that  "tuck in" acquisitions are a recognized growth strategy for big publicly-owned companies despite popular belief that the down-and-dirty world of consolidation and restructuring is the sole domain of entrepreneurs and family-owned companies.