New Era Of Consolidation

Maintaining a strong balance sheet has also been a critical factor, according to Chris Colville, Consolidated Graphics' executive vice president and CFO. It is also a characteristic the company seeks in other firms, along with great management and customer service.

"We found that the good companies with really good management teams...understood what a fair valuation for their company was and that, long term, the prospect of joining the industry leader was what made sense," Colville notes.