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Article: Printing Co. M&A Inks Static Valuations.
- Article from:
- Mergers & Acquisitions Report
- Article date:
- April 25, 2005
- Author:
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Don't stop the presses-the $90 billion U.S. commercial printing industry is consolidating again, but multiples have plateaued.
Yet there is some good news for bankers looking for deals-M&A among printing suppliers, which make technology and equipment for printers, is hot.
The printing industry overall is huge and fragmented, worth more than $400 billion globally. Multiples have been trending down since the late '90s, but in the last year, deal activity has increased and takeout multiples established themselves solidly at three to five times EBITDA.
Consolidated Graphics Inc. just completed its largest ever deal in March-the $100 million ...