NAPL team provides advisory services to Classic in the combination of two North Carolina companies
East Rutherford, N.J. -01/16/2012 -Two of the most respected names in the printing and graphic communications industry are joining forces: Classic Graphics, Inc., Charlotte, N.C., has acquired certain assets of Harperprints, Henderson, N.C., adding to Classicâs position as the largest privately owned graphic communications company in the Carolinas. The NAPL Business Advisory Team provided advisory services to Classic Graphics, including recommendations on valuation and transaction structure.
In the context of an industry where many smaller companies are falling by the wayside, and where mid-sized competitors are consolidating to remain viable, David Pitts, co-owner of Classic, says this is a logical move: âClassic has enjoyed tremendous organic growth over our 28-year history. Combining operations with a prominent, industry-leading company like Harperprints will help us sustain, and hopefully extend, our growth ambitions.â
While Pitts did not reveal financial terms of the transaction, Classicâs sales for 2011 were approximately $50 million, and sales for 2012 are expected to be between $55 and $60 million. âThe cultures and visions of our two companies are virtually identical,â he said. âWe share a philosophy of providing highly responsive and flexible service to our customers.â Pitts continued, âUniting the two companies can only create a stronger entity, allowing us to provide even more of the technology-related graphic communication services our customers expect. At the same time, our service ethic will continue to ensure the very highest level of customized, personal attention.â
Mike Harper, President and Co-owner of Harperprints, echoes Pittsâs enthusiasm for the acquisition. âWhen Lynn [Harper] and I started Harperprints in 1974,â he said âwe began a tradition of craftsmanship and dedication to customer satisfaction that we have constantly sought to uphold. Blending the strengths of our company with those of Classic, one of the premier names in our industry, makes perfect sense for us and our customers.â
Mike Harper, who will assume the role of Executive Vice President âTriangle Division in the combined company, anticipates retaining existing Harperprintsâ customers, thanks in large part to the favorable reputation of Classic. âThis combination will be great for our customers,â he said. âWe will provide them with access to a wider and more complete range of services, including the integration of data, brand assets, grand format print, and logistics. I have made a personal pledge to our customers that we will do everything in our power to make the transition seamless.â
Pitts sees the acquisition as a win-win situation for all involved. âClassic will benefit from the addition of experienced, highly talented professionals to an already-outstanding team,â he said. âHarperprints employees will join an established, employee-owned company. And most importantly, customers of both companies will be served by one of the strongest privately held printing and graphic communications companies in the Southeast.â
Founded in 1983 by David Pitts and Bill Gardner, and known for exemplary customer service and cutting-edge technological capabilities, Classic serves national and international corporations. Classic currently ranks 126th in theÂ Printing ImpressionsÂ magazine 400, a list of the leading printing companies in the United States and Canada. Further information may be located atÂ www.knowclassic.com.
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