Louisville, Ky.-based SGS International, which offers graphic services to the consumer products packaging industry, announced today that its wholly owned subsidiary, Southern Graphic Systems, has acquired Stevenson Color for an undisclosed amount. Stevenson Color is family-owned, 86-year-old, Cincinnati, Oh.-based company that also provides graphics services to consumer products companies.
SGS International, Inc. (“SGS”), a global leader in design-to-print graphics services to the consumer products packaging industry, announced today that its wholly owned subsidiary, Southern Graphic Systems, Inc., has acquired Stevenson Color, Inc. (“Stevenson Color”).
“This acquisition will not only allow Stevenson Color to continue to grow, but will enable us to better serve our customers by offering the full range of services provided by SGS.”
Headquartered in Cincinnati, Ohio, Stevenson Color is a fully integrated provider of graphics services to branded consumer products companies and retailers. Founded in 1926, the company has more than 170 employees and is managed by the fourth generation of the founder’s family. Tom Stevenson will continue as President and Andy Stevenson as Executive Vice President. The company will continue to operate under the Stevenson Color name.
“SGS’s interest in Stevenson Color was driven by its outstanding leadership, workforce culture and the unique value proposition it offers to the retail market,” said Hank Baughman, President and Chief Executive Officer of SGS. “SGS and Stevenson Color share guiding principles in that we are intensely focused on the customer and exceeding customer expectations is our number one priority.”
“I am excited by the opportunity to continue leading Stevenson Color as part of the SGS family,” said Tom Stevenson. “This acquisition will not only allow Stevenson Color to continue to grow, but will enable us to better serve our customers by offering the full range of services provided by SGS.”
About SGS International
SGS International is a global leader in the digital imaging industry. SGS offers design-to-print graphic services to the international consumer products packaging industry primarily in North America, Europe and Asia. SGS provides a full spectrum of innovative digital solutions that streamline the capture, management, execution, and distribution of graphics information. Brand development, creative design, prepress, image carriers and print support services are utilized in each of the three main printing processes: flexography, gravure and lithography. The company provides critical services that ensure customers are able to obtain or produce consistent, high quality packaging materials often on short turnaround times. To learn more about SGS, please visit www.sgsintl.com.
SGS International was recently acquired by Onex Corporation (“Onex”) (TSX: OCX) in a transaction that closed on October 17, 2012.
Onex is one of North America’s oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. In total, the Company manages approximately $14 billion, of which $9 billion is third-party capital. Onex invests its approximately $5 billion of proprietary capital directly and as a substantial limited partner in its Funds.
Onex’ businesses have assets of $39 billion, generate annual revenues of $34 billion and employ approximately 235,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The company’s security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. SGS is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.