Colortree acquires Richmond web printer
Richmond-based Colortree Group Inc. has acquired Direct Impressions Inc., a Richmond web printer specializing in continuous forms, folded inserts and cut sheets.
Colortree is a manufacturer of full-color direct mail envelopes, fliers, brochures, letters, newsletters, self-mailers, business reply cards, and other printed products, primarily for the direct mail industry.
Company officials said the Direct Impressions deal, which closed Dec. 31, accelerates Colortree’s strategy of becoming a leading provider to the direct-mail industry, doubles its production capacity and bolsters Colortree’s senior management team. Terms of the deal were not disclosed.
“This merger allows us to combine the capabilities of Colortree Group for envelopes, high quality print and full-service mailing, with Direct Impressions for continuous forms, folded inserts and cut sheets into one strong entity [sentence is too long]. Our initial growth will come from offering all of these capabilities and services to our existing and expanding customer base,” Pat Patterson, the CEO and president of Colortree Group, said in a statement.
Colortree Group plans capture an increasingly larger portion of the direct communication business, which has struggled during the economic downturn. The company plans to achieve this goal by offering additional products and services to the direct-mail industry through technological innovations, higher quality, higher productivity and other advancements.
The acquisition of Direct Impressions brings an additional 75 employees into the fold at Colortree Group, for a total of 280 employees. The company will operate out of two manufacturing facilities, keeping Direct Impressions existing location. In October 2011, Pat Patterson and Boathouse Capital formed the Colortree Group to acquire Colortree and Graphics Innovations. The sellers of Direct Impressions were represented by Dominion Partners.