Blackford Capital has made an investment in Dickinson Press, a book manufacturer and provider of printing services.
Dickinson Press has a variety of printing capabilities and print services including lithographic and digital printing, perfect and case binding, and warehousing and fulfillment services. The company produces various books and printed materials such as bibles, dictionaries, reference books, children’s books, and a variety of other printed literature for the religious, business, and education markets. The company was founded in 1884 and operates out of a 120,000-square-foot facility with approximately 120 employees. Dickinson is headquartered in Grand Rapids, MI (www.dickinsonpress.com).
“Dickinson is a trusted partner to the world’s most renowned religious publishing companies, and the company has a presence in other market segments such as media groups, financial and manufacturing businesses and education,” said Martin Stein, founder and managing director of Blackford Capital. “Increased growth through add-on acquisitions as well as penetration in these markets will be a focus for the sales team moving forward, as well as expansion efforts focused on other adjacent segments such as automotive, healthcare and higher education that are designed to diversify the company’s client base.”
Dickinson’s management team will remain in place with Ray Sevin continuing his role as President and CEO. “We’re very pleased to join forces with the Blackford Capital team. After 130 years of successful business operations, we’re looking forward to broader opportunities and the benefit of leveraging additional operational expertise for our employees, customers and partners,” said Mr. Sevin.
Blackford Capital invests in middle-market manufacturing, distribution, and service companies in both mature and growing industries. Target companies will have revenues of $20 million to $100 million and EBITDAs of $2 million to $20 million. Blackford has offices in Grand Rapids, MI (headquarters) and Santa Monica, CA (www.blackfordcapital.com).
The investment in Dickinson Press is the fifth made through Blackford’s Michigan Prosperity Fund which closed in 2012 and invests exclusively in Michigan companies. Other investments include Fenton-based Burgaflex, Grand Rapids-based Custom Profile, Oak Park-based Mopec, and Grand Haven-based Grand Transformers.
New Direction Partners – an investment bank based in Valley Forge, PA – represented Dickinson Press in the sale and will be partnering with Blackford and Dickinson Press to pursue add-on acquisitions (www.newdirectionpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-18-15
