Consolidation--The Juggernaut Hits the Wall

Chris Colville, executive vice president at Houston-based Consolidated Graphics, affirms that view, noting that "a number of the consolidators pushing the pace of acquisitions in 1998 were highly leveraged and/or lacked industry experience to continue the pace in 1999.

We publicly predicted this in the spring of 1999, at one of the major M&A [mergers and acquisitions] conferences."