PI 400 -- M&A Activity - Acquisitions Yield To Slow Economy

BY HARRIS DEWESE

Have you been thinking now is the time to sell your printing company, buy a 60-foot Hatteras yacht and retire to Boca Raton? Forget it!

Merger and acquisition activity in the printing industry is at a standstill. But, you say, "DeWese, you are crazy! My company is much better than my competitor, Smart Al's Lithographing. Al sold his print shop to a consolidator less than two years ago and he is living in Key Largo where he fishes on his 42-foot Chris Craft. He told me that he was paid more than six times earnings before interest, taxes, depreciation and amortization (EBITDA)."