M&A Activity: The Invisible 'Tuck-in' Deals

One conclusion that can be drawn from examining the list of the most prominent acquisitions during that time is that couplings of high-dollar generators have sharply declined. That would be a safe assumption. Here's a sampling of the industry's next-biggest M&A splashes:

• Ovation Graphics of Fort Worth, TX, struck a deal to acquire Motheral Printing.
• Walsworth Publishing, Marceline, MO, added Ovid Bell Press of Fulton, MO.
• Ripon Printers in Ripon, WI, swung a deal to nab New Berlin, WI-based Sells Printing.

It would be presumptuous to say that M&A activity, across the board, has taken a hit. There has been a fair amount of activity near the $5 million to $15 million range, situations where unions have taken place due to the complementary nature of their products and services, while others have forged working relationships in order to cross-sell off each other's platform. But what isn't receiving much attention—or ink—is the phantom tuck-in, simply because many companies just aren't trumpeting asset purchases.