Direct Marketing Industry Veteran Jim Andersen Is Named Interim CEO of SG360° (piworld.com)

With a significant increase in its business due to market leading quality and customer service, Fort Dearborn, a custom label and packaging company with twenty locations nationwide, reached nearly 82 million impressions on its Heidelberg Speedmaster XL 106-8+L in 2020. This high level of productivity was especially critical to Fort Dearborn’s success as demand at grocery stores due to COVID-19 surged. Printing primarily cut and stack labels, the Fort Worth location of Fort Dearborn is equipped with two Speedmaster XL 105s and one other XL 106 in addition to its world-record press, which was installed in July of 2019. In comparison to similar machines in the market, the XL 106 at Fort Dearborn produced more than 2.5x the number of annual gross impressions than the industry average of 32 million. Fort Dearborn credits its record-breaking performance to the overwhelmingly advanced technology of the press, its increased business in 2020, and its overall plant strategy and teamwork mentality.

Modern Litho, a publication and commercial printer and mailer headquartered in Jefferson City, Missouri, with production facilities in St. Louis and Kansas City, announces the ownership group has wholly sold the company to two of the existing shareholders, Jeff and Jenny Davidson as of December 31, 2022. The event marks the successful transition of the mostly family-owned company to the third generation as part of its planned ownership succession. “On behalf of the outgoing ownership group, it has been our highest honor and privilege to steward the company (Modern Litho) with a firm long-term vision. We’ve made decisions large and small based on what’s best for the business, our employees, and our customers. It’s this conviction combined with truly exceptional employees, industry partners and vendors that have made Modern Litho the world-class print organization it is today. Jeff and Jenny Davidson having been part of the ownership for the last five years, will continue with the same goal and vision. We couldn’t be more proud and excited for the future of Modern Litho,” commented Darrell Moore, CEO.

*Revenue for the first quarter was $114.7 million higher than the previous year. Excluding the First American acquisition, which closed on June 1, 2021, revenue increased $31.4 million, or 7.1% year-over-year. *The Payments segment delivered revenue growth of 109.1% over the previous year to $166.2 million. Excluding First American, Payments grew 4.3%. *Net income of $9.7 million included $12.7 million of acquisition amortization from the First American acquisition, as well as an increase in interest expense of $15.8 million driven by the transaction. *Cash flow from operations for the first quarter was $34.3 million and capital expenditures were $20.8 million. Free cash flow was $13.5 million, a decrease of $4.4 million compared to the first quarter of 2021, partially driven by increased cash interest payments.