The move follows Mount Royal’s 2009 acquisition of Jarboe Printing as the company look for opportunities to expand in a tough market.
In an interview with PrintWeek, Mount Royal’s president and owner Gary Cayce explained the significance of the latest deal. "A third of our sales are currently in that (south of Washington) market, with this acquisition we hope to continue to grow given Fannon’s long time history in the area," he said.
The merger was put together by the East Rutherford, NJ-based National Association for Printing Leadership (NAPL) and in a statement, NAPL Senior VP said, "The transaction reinforces the importance for serious acquirers, such as Mount Royal, to get the word out that they are a good home for those seeking transition from ownership."
As part of the deal, Fannon CEO Daniel Fannon will become a senior staff person with Mount Royal and Cayce suggested there will be little or no layoffs as a result of the deal, adding: "We are picking up valuable employees that will be keys to our success."
Mount Royal Printing is a third-generation owner-operated commercial printing company serving the Baltimore-Washington area. But Cayce pointed out: "The Baltimore-Washington print market is still very distressed. Many of the printers in the area have relied on printing related to the running of the federal government but that’s down, causing them to look more at the commercial market."
