"It’s changing because the sellers are now open to more creative deals," Typecraft owner Greg Bozzi explained to PrintWeek after the deal was announced. "Ten years ago, the majority wanted a multiple of what they made in cash plus a minor workout. Now there are any numbers of ways to convert their balance sheet to cash."

The TCP/Market Direct deal was shepherded by the National Association of Printing Leadership (NAPL) Mergers & Acquisition team, which introduced the parties, advised on the transaction price and structure, and prepared the letter of intent. As part of the deal, MPD owner James Kaufman will join Typecraft and assume responsibility for all accounting operations.

Bozzi stressed this deal was more than Typecraft picking up a new facility. "The equipment was not a huge factor," he said. "It was the staff, the customer list and the opportunity to reduce duplications of services, primarily in IT, management and accounting."  Bozzi confirmed there would be layoffs as result of the merger.

Typecraft is part of a family of companies Bozzi acquired that specialize in web and commercial sheetfed printing, while MPD is known for direct marketing services that include printing, mailing, and fulfillment. "Typecraft is more of a traditional printer and Marketplace Direct had more digital capabilities, which we’ll be able to integrate relatively quickly," Bozzi explained.