Akron private equity firm Signet LLC is adding a fourth business to its portfolio of printing and publishing companies, acquiring Sheridan Specialty Bindery. The Tennessee company will merge with graphic arts company BindTech LLC, and adopt its branding, becoming a third manufacturing division of the growing operation.
- SSB's integration into BindTech will allow the company to leverage more capacity, especially on the higher-end, deluxe side of the book manufacturing business.
- All Sheridan employees will be retained and the original founders Rick Jennings and Fred Cooper will act as division managers for that facility.
- Deal terms were not disclosed. Signet expects to complete the integration by the third quarter of 2019.
PRESS RELEASE Akron, Ohio — Signet LLC has acquired Sheridan Specialty Bindery (SSB), the assets formerly operated as Kingsport Book, of Church Hill, Tennessee from CJK Group, Inc. With the acquisition, the Akron-based investment firm adds to its portfolio a fourth company that serves the printing and publishing industry. Financial terms of the transaction have not been disclosed. The acquisition of SSB constitutes a full merger with BindTech LLC, an industry-leading graphic arts company. SSB will be fully integrated with BindTech and adopt the latter company’s branding, becoming a third manufacturing division of the growing operation. The other two divisions consist of BindTech Cleveland (formerly Finish Line Binderies), and BindTech Nashville, which also serves as BindTech’s national headquarters. PSSC is the fourth branded Signet company that specializes in inventory management, fulfillment, and warehousing. PSSC operates out of Ypsilanti and Ann Arbor, MI and Fitchburg, MA. The integration of SSB into BindTech will allow the company to leverage more capacity, especially on the higher-end, deluxe side of the book manufacturing business. The ability to load-share common jobs with the other production facilities will benefit customers with improved turn-around times and more efficient logistics. Chairman of parent company Signet LLC, Anthony (Tony) Manna, explains why SSB is the perfect addition to their graphics arts group. “We’re thrilled to add SSB and its employees to the Signet business family,” says Manna. “Their commitment to service is a philosophical match with us and we are excited about the strengthened market position we will see as it merges with BindTech.” Co-owner and CEO John Helline is most excited about the people who will be coming to BindTech with the acquisition. “We are excited to add the capacity of Kingsport to our platform,” says Helline. “However, it is the people and their knowledge of our industry and how to build a quality product is what really excites us.” “We also want to thank the CJK Group, especially Chris Kurtzman and Ben Matalamaki, who have been outstanding to work with throughout the entire acquisition process,” Helline added. “We are very pleased that they believed that our group would be the best fit in which to entrust SSB’s operation and their employees.” The new ownership’s management team said that they will be retaining all SSB employees, including original founders of the location Rick Jennings and Fred Cooper, who will act as Division Managers for that facility. “Both leaders will remain on board with the acquisition, and I know they are looking forward to growing our market position in the deluxe book manufacturing space,” says Chad Dillon, BindTech’s Vice President of Operations and Sales. “We have a tremendous amount of respect for Rick and Fred, and we look forward to them joining our management team at BindTech.” The bindery was established in 2006 in Church Hill, Tennessee, and operated as Kingsport Book until October 2018, when the assets were purchased by CJK Group. The bindery is a market leader in the deluxe book-binding space. The business operates a 120,000 sq. ft. facility with over 50 employees, with the capacity to produce deluxe hard cover or flex cover books. BindTech LLC is a premier national book bindery with a vast range of manufacturing capabilities that service major printers and publishers throughout the United States. Growing into one of the largest privately-owned trade bindery/book manufacturers in the country, BindTech’s commitment to quality and service has earned a trusted name throughout the graphic arts industry. Dillon anticipates the many positive benefits that the acquisition will bring to their collective client base. “This addition will allow BindTech to provide our customers with the ability to make one call for any and all of their finishing, warehousing and fulfillment needs,” says Dillon. “It also eliminates conflicts for the client base with the two binderies in potential competition for market share.” Company leadership expects SSB to be fully integrated with BindTech by the second or third quarter of 2019. About BindTech LLC Book binding is a family tradition at BindTech. Over four generations of excellence in this trade, and over 68 years of continued experience has earned our employees the title of "Master Craftsmen”. From coast to coast, BindTech services major printers and publishers throughout the United States. From perfect binding to deluxe gilded edge leather binding, and everything in between, attention to detail is sewn in every stitch, and time-honored traditions of binding are performed by employees who each day stand behind our name. With operating plants in Nashville, Cleveland, and Church Hill, BindTech's commitment to quality and service has earned a trusted name throughout the Graphic Arts industry, a name which will forever preserve the ties that bind. Visit http://www.bindtechinc.com. About Signet LLC Signet brings an innovative, unconventional approach to global investment that embodies creativity and forward thinking to achieve long-term success. With leadership and expertise in the areas of project structuring, capital formation, operational investment and management, we tailor strategy and resources to meet each unique opportunity. Boundless in ideas and tactics, Signet has spent 20+ years crafting collaborative partnerships that advance initiatives in real estate, diversified manufacturing, health and wellness, emerging technologies, investment banking and finance. Learn more at signetllc.com. About CJK Group, Inc. CJK Group, Inc. is a national portfolio of print and publishing related services, fulfillment, and technologies serving book, magazine, catalog, and journal publishers. Headquartered in Brainerd, MN, the CJK Group portfolio includes: Bang Printing - Brainerd, MN; Hess Print Solutions - Brimfield, OH; Sentinel Printing Company - St Cloud, MN; Sinclair Printing Company - Los Angeles, CA and Palmdale, CA; Sheridan - Hanover, PA, Hanover, NH, Chelsea, MI, Waterbury, VT; and Webcrafters, Inc. - Madison, WI. For more information, visit http://www.cjkgroup.com