It seems that 16 could be the lucky number for Mittera CEO Jon Troen. That’s because his latest acquisition – the 16th M&A deal made by the Des Moines, Iowa-based printing industry powerhouse – is really big. Mittera has acquired the assets of its national printer colleague Trend Offset Printing.
Headquartered in Los Alamitos, California, Trend Offset is primarily a web offset and digital printer for the retail, magazine, catalog, and direct mail markets. In addition to Los Alamitos, Trend also has manufacturing facilities in Avon, Ct .; Jacksonville, Fla .; Charlestown, Ind .; Reno, Nev .; Pineville, NC; and in Carrollton and Arlington, Texas.
The combined company, which will bring together two of the largest privately owned printing companies in North America, will employ more than 2,000 people. The current Trend CEO Todd Nelson will also stay with the organization.
With self-reported annual sales of $ 375 million for the most recent fiscal year, Trend Offset was ranked 18th on the recently published 2020 Printing Impressions 350 list. Mittera was ranked 26th and had sales of $ 253.5 million in the last fiscal year. (Click here to download the full list of 350 Impressions.)
The addition of Trend Offset will enhance Mittera’s presence in both retail and commercial printing. The combined company will also be able to offer its customers more integrated solutions and greater sales space.
“As the landscape of our industry continues to change, it is critical that printers evolve to meet customer needs of the future rather than those of the past,” Jon Troen said in a statement. “The acquisition of Trend makes a lot of sense for both organizations as it will allow further consolidation of our industry and allow our combined companies to offer our customers a more robust set of marketing solutions.”
Mittera says Trend customers will continue to work with the same team of professionals as in the past and will have access to Mittera’s expanded platform for digital and sheetfed capabilities, as well as digital marketing solutions.
Todd Nelson, CEO of Trend Offset, commented, “Trend’s priority is to create a seamless transition for our customers. We believe that this direction offers the greatest opportunity and value for our employees, suppliers and customers alike. “
Mittera’s most active printer on the M&A front
Some of Mittera’s recent acquisitions included the business assets of Fuse LLC, Chicago, in November 2019; Sprint Denver’s net worth as of June 2019; the assets of North Kansas City-based Henry Wurst Inc. as of December 2018; and the assets of EarthColor, headquartered in Parsippany, NJ, in September 2017.
On the acquisition of Trend Offset, printing and packaging M&A specialist New Direction Partners provided investment banking services to sellers and SierraConstellation Partners acted as financial advisor to sellers.
Early indication of trending problems
Trend Offset, headed by chairman Anthony Lienau, took over the offset printing of newspaper supplements from LSC Communications in May 2018. A sign that trend offset, however, sThe financial troubles arose in August 2020 when Flint CPS Inks North America took the unusual step of issuing a press release requesting a partial summary assessment of the breach of contract originally filed against the printer in April 2020.
Flint The group alleged that it and Trend Offset entered into a supply agreement in January 2016, under which Flint Group supplied Trend with inks, flat blankets, sleeves, fountain solutions, web conditioners and press washes. Flint The group alleged Trend violated the supply agreement by failing to pay the current balance in Trend’s account of nearly $ 4 million.