Commercial printer Consolidated Graphics Inc. has signed a letter of intent to acquire The Hennegan Company, a high-end printer with sheetfed, Web and digital capabilities.
Founded in 1886, Hennegan is based in a 210,000 square-foot facility in Florence, KY, and has five sheetfed presses, three Web presses and a Kodak NexPress. Its annual revenues are approximately $85 million.
Consolidated Graphics, Houston, expects to complete the transaction within 90 days.
Hennegan’s sheetfed printing capabilities include ultra-violet curing and a variety of varnishes and coatings on substrates ranging from plastics and foil to 28-point board. It also offers personalized digital printing, one-to-one marketing, direct mail and fulfillment.
Hennegan’s fourth-generation management team led by CEO Bob Ott Jr. and vice president Kevin Ott will remain with the company following the completion of the transaction. Bob Ott Sr., currently chairman of Hennegan, will also remain with the company.
