News June 02, 2023
Ennis Inc. Acquires UMC Print
The Texas-based supplier has made at least four acquisitions since August last year.
When it comes to acquisitions, Ennis Inc. (asi/52493) has been on a hot streak.
The Midlothian, TX-based supplier of print solutions and promotional products announced that it’s acquiring the operating assets of UMC Print, a Kansas-based trade-only printer and provider of commercial printing services that’s been in business since 1936. Financial terms of the deal weren’t immediately released.
Following closing, UMC Print will continue operating from its existing location in Overland Park, KS, executives said. Ennis described UMC as one of the largest sheet-fed commercial printers in the area, noting that it serves customers throughout the Midwest and beyond.
“The addition of UMC Print continues our commitment to adding strategic locations and capabilities to drive growth,” said Keith Walters, chairman, president and CEO of Ennis Inc. “For more than 85 years, UMC Print has been serving this same industry. Their expansive capabilities are in demand by our customers.”
The UMC Print acquisition comes about a week after Ennis announced that it’s buying the real estate and operating assets of Stylecraft Printing Co., a Canton, MI-based trade-only printer that specializes in business forms, integrated products and commercial printing.
Ennis’ other recent acquisitions include Morganville, NJ-based School Photo Marketing in November 2022 and the August 2022 purchase of certain assets, including customer lists and intellectual property, from Gulf Business Forms.
A publicly traded firm, Ennis reported in April that total company sales for its full fiscal year, which concluded Feb. 28, increased 8% to $431.8 million. Net earnings for the fiscal year were $47.3 million, or $1.82 per diluted share.
Ennis sells promotional products, business forms and supplies, checks and software-compatible forms, envelopes, custom business forms and presentation folders, among other items.