Specialties Bindery — A Cut Above

As part of Quebecor, Specialties Bindery began a sales decline and reached a low of $5 million in 1996. In mid-1997, white knights Ron Ridgeway, Mark Lee and Bill Schroder repurchased the company with the intent of restoring its historical reputation in the marketplace.

The road back was fast. By the end of 1998, the newly independent bindery was again a $7 million operation. In mid-1999, Lee—a 25-year company veteran—ascended to the presidency of the 90-employee company, bringing with him an unabashedly pro-growth management style. Within his first 12 months of leadership, Lee quickly invested $500,000 in equipment and process improvements, and restructured his management team. For the last half of 2000, Specialties Bindery expects to invest another $500,000 in manufacturing iron and is forecasting a revenue run rate of nearly $9 million.