Akron, Ohio (PRWEB) December 16, 2020
Ohio-based private investment firm, Signet LLC, has concluded its third acquisition in the graphic arts/publishing industry in three years, acquiring BindTech, Inc., of Nashville, TN, one of the largest private trade bindery/book manufacturers in the country, Signet LLC representatives announced today.
BindTech employs more than 100 people in their 90,000-square foot plant. As with Signet’s prior purchases, no job loss is expected with the acquisition, and BindTech executives will remain in place. BindTech will remain as the operating name of the company.
The purchase follows the 2015 acquisitions of Riverside Group, a century old book binder in Rochester, NY and Publishers Storage & Shipping Corporation (PSSC), a Massachusetts based book storage and order fulfillment center. Signet has owned Cleveland-based Finish Line Binderies for more than a decade.
Signet Chairman, Anthony Manna, said the acquisition, like all of Signet’s publishing purchases, is a partnering of companies with similar philosophies. “Signet’s philosophy is to buy, hold and add value to companies through close collaboration with company operatives. BindTech was a family-owned, service-first company that expanded to 100 employees in 30 years of successful growth. They have an impeccable name in this industry and it was important to them, and us, that they remain as BindTech. We look forward to providing them with additional resources and stability to continue that growth,” Manna said.
With the purchase, Signet adds a broad client list in an industry that is rapidly shrinking through attrition and consolidation. The recent purchases have allowed Signet to reinvest capital in facilities, equipment and employees.
BindTech’s range of manufacturing capabilities include hard cover binding, smyth sewing, wire-o, wire spiral binding, plastic spiral and GBC. The company also has a very large capacity for high-speed perfect binding, including PUR and lay-flat binding. Other finishing amenities include foil stamping, embossing, die cutting, folding and fulfillment.
BindTech has specialized capabilities in leather binding with gilded edges, hubbed spines, silk ribbon page markers and intricate multi-color foil stamping and debossing. Products produced include coffee table books, bibles, albums and classical titles.
John Helline, Manna’s business partner and CEO of the related stable of companies, is excited about the positive effect that the addition of BindTech will have on other Signet print services companies and clients. “BindTech’s capabilities and capacity will open up new doors for the entire Signet print services group of companies, said Helline. “With facilities in Cleveland, Ypsilanti MI (near Ann Arbor), Rochester NY, Fitchburg MA (just outside of Boston), and now Nashville, our diversification, fulfillment and distribution reach is much larger.”
Dale Nichols, President of BindTech, appreciates the professionalism and transparency Signet’s group brought to the table throughout the acquisition period. “The acquisition team who came down for meetings was refreshingly genuine and transparent with us, which has made for a very smooth and seamless transition,” said Nichols. “The whole process has been quite enjoyable.”
Founded in 1992, BindTech’s vast range of manufacturing capabilities service major printers and publishers throughout the United States. Growing into one of the largest privately owned trade bindery/book manufacturers in the country, BindTech strives to become the best and most dependable trade bindery in the nation. From perfect binding to deluxe gilded leather binding, and everything in between, attention to detail is sewn in every stitch and time honored traditions of binding are performed by employees who each day stand behind the BindTech name. Learn more at bindtechinc.com.
About Signet LLC
Signet brings an innovative, unconventional approach to global investment that embodies creativity and forward thinking to achieve long-term success. With leadership and expertise in the areas of project structuring, capital formation, operational investment and management, we tailor strategy and resources to meet each unique opportunity. Boundless in ideas and tactics, Signet has spent 20+ years crafting collaborative partnerships that advance initiatives in real estate, diversified manufacturing, health and wellness, emerging technologies, investment banking and finance. Learn more at signetllc.com.