A former Quebecor World executive and two private investors purchased five of the printer's U.S. facilities for $70 million through a newly formed company, the firms said last week.
The new company is The Matlet Group LLC. The deal was structured as a management buyout of facilities that specialize in commercial printing and packaging, fulfillment and premedia services. The facilities are Acme Printing Co., Wilmington, MA; Central Florida Press, Orlando, FL; Packaging Graphics, Pawtucket, RI; Nova Marketing Services, St. Louis; and Premedia Services, Detroit.
Matlet's annual revenue exceeds $135 million, and it employs 600 people. It was formed by Gary Stiffler, former executive vice president of Quebecor's Commercial Group, along with two private investors.
Quebecor, Montreal, announced a separate management buyout Nov. 15. In that deal, former Quebecor management acquired several of the printer's Canadian facilities for $44.4 million through a newly formed company called Grafikom LP.
