SIGNET ANNOUNCES STRATEGIC MERGER WITH HOLDING COMPANIES BINDTECH LLC AND FINISH LINE BINDERIES LLC.

FINISH LINE BINDERIES LLC OF CLEVELAND TO FULLY INTEGRATE WITH AND ADOPT THE BRANDING OF SISTER COMPANY, BINDTECH LLC.

Press release from the issuing company - 08/09/18

Company leadership announced last week a major reorganization which constitutes a full merger with holding companies BindTech LLC of Nashville and Finish Line Binderies LLC, of Cleveland.  Finish Line will be fully integrated with BindTech, the industry-leading book bindery service provider, and adopt the latter company’s branding. The integration of the two companies will improve the customer experience by streamlining fulfillment processes, which will speed up turnaround times and improve logistics.

Chairman of the parent company Signet LLC, Anthony Manna, explains why the timing was right for two companies to come together under his ownership.  “There is tremendous consolidation occurring in the print bindery and fulfillment industry.  This merger will allow for a much stronger position in the market as we leverage the strengths of both plants which come together to form one formidable brand,” says Manna.

With manpower challenges facing the book-binding industry to keep graphic arts manufacturers and service providers stocked with talented workers, co-owner John Helline sees this merger as a major benefit to his workforce - which will in turn benefit the marketplace.  “This merger allows us to more effectively allocate and deploy talent, and to streamline internal resources and processes to recruit and retain skilled talent,” says Helline.

Established in 1937 in Cleveland, OH Finish Line Binderies has been a leader in the book binding industry, specializing in perfect and mechanical bookbinding to exceed client’s expectations, utilizing experienced personnel and state-of-the-art equipment.

BindTech LLC is a premier national book bindery with a vast range of manufacturing capabilities that service major printers and publishers throughout the United States. Growing into one of the largest privately owned trade bindery/book manufacturers in the country, BindTech’s commitment to quality and service has earned a trusted name throughout the graphic arts industry.

Management will now be able to leverage both plants’ strengths, which will present many benefits to their respective client bases.  

The Nashville division specializes in hard cover binding (both adhesive and sewn) and mechanical binding (both plastic coil and double wire).

The Cleveland division specializes in mechanical binding (double wire, plastic coil, and spiral wire), kitting and fulfillment.

“This merger allows us to become a solutions provider for our clients by allowing us to address their needs with a holistic approach.  We can allocate resources and execute logistics at a higher level utilizing the resources and benefits of each location,” says Chad Dillon, General Manager of BindTech. Dillon, who worked in management at Finish Line for many years now oversees both divisions from the Nashville location.

“The move allows for integration of logistics which will improve turnaround times and efficiency in bids and workflows. Being able to load-share jobs and produce solutions geographically will help our sales pitch tremendously,” Dillon added.

The merger also eliminates conflicts for the client base with the two binderies in potential competition for market share.

Company leadership also announced the promotion of David Marvin, now Division Manager of the Cleveland plant (formerly Finish Line), and the hiring of Mackenzie Koupal to the position of Division Controller of the Graphic Arts Group.

“I am very excited to be leading our Cleveland plant and look forward to our future collective growth,” says Marvin.  “This merger will create substantial value for our customers through increased capacity as well as a wider range of finishing needs in multiple locations. Each location brings many years of experience and expertise to take on any challenge.  I look forward to building new relationships as well as maintaining the great relationships that have already been established,” says Marvin.

Mackenzie Koupal says that the merger will help streamline the entire operation while bringing the two organizations closer together as one “family”.  “While both companies work cohesively already, the merger will allow simplicity from a customer standpoint and operations. Additionally, this merger will cement the family feel between the two entities and allow for us to streamline accounting and HR processes,” says Koupal.

Company leadership expects the two companies to be fully integrated by the third quarter of 2018.

About BindTech LLC
Book binding is a family tradition at BindTech. Over four generations of excellence in this trade, and over 68 years of continued experience has earned our employees the title of "Master Craftsmen". From coast to coast, BindTech services major printers and publishers throughout the United States. From perfect binding to deluxe gilded edge leather binding, and everything in between, attention to detail is sewn in every stitch, and time honored traditions of binding are performed by employees who each day stand behind our name. With operating plants in Nashville and Cleveland, BindTech's commitment to quality and service has earned a trusted name throughout the Graphic Arts industry, a name which will forever preserve the ties that bind. Visit www.bindtechinc.com.

About Signet LLC
Signet brings an innovative, unconventional approach to global investment that embodies creativity and forward thinking to achieve long-term success. With leadership and expertise in the areas of project structuring, capital formation, operational investment and management, we tailor strategy and resources to meet each unique opportunity. Boundless in ideas and tactics, Signet has spent 20+ years crafting collaborative partnerships that advance initiatives in real estate, diversified manufacturing, health and wellness, emerging technologies, investment banking and finance.Learn more at signetllc.com.

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