Seeing The Light (CONT’D FROM PAGE 20)
overwhelming – printing and packaging firms have sur- vived scarier economic periods than this one. By mid-year, we will have a better handle on the state of the economy and a clearer picture of what a post- COVID industry might look like. But the view at the pres- ent moment is encouraging, and we fully expect the pace of mergers and acquisitions through the remainder of the year to make the outlook even more upbeat. Thomas J. Williams is a partner in New Direction Part- ners, an M&A advisory firm specializing in sales, acquisi- tions, valuation, financing, and strategic planning for the printing and packaging industries. Contact him at (203) 856-0120 or at twilliams@newdirectionpartners.com. Chicago TAPPI Confirms May 24 As Date Of Table Top Trade Fair TAPPI has confirmed it will host its popular 2022 Chicago TAPPI Table Top Trade Fair on May 24 at the Marriott Oak Brook at 1401 West 22nd Street in Oak Brook, Illinois. The event will start at 3:00 p.m., followed by the AICC Evening Meeting. The event is free to attend for all converters, with an open bar and hor d’oeuvres. The cost is $75 per per- son for non-converters. The mission of Chicago TAPPI is to build business relationships and promote the corrugated industry by educating our members through the exchange of new ideas and technical expertise. Visit tappi.org .
ins. The good news is that a pent-up demand will be wait- ing for them when they do. We get calls almost every day from strategic buyers in search of tuck-in opportunities, but over the last couple of years, there have been few to bring them. This will change as reality sets in and legacy owners take an overdue step toward winding their busi- nesses down. What to Do Now Every owner benefits from the fact that right now, the M&Amarketplace has more buyers than sellers on both the financial and the strategic sides. Owners of firms that have come through COVID-19 in decent shape, on their own, are well positioned to attract offers from multiple sources. Owners of less healthy firms, and especially those still in business only by virtue of PPP, should take a frank look at their numbers and try to project how long it will be before cash flow and profitability can be restored. If the answer is no time soon, the time has come to plan an orderly exit through a tuck-in. Comparing our states of mind between now and a year ago, to say nothing of two years ago, should tell us that the climate for doing business in the industry is improving. Attitudes have changed: people are willing to work around COVID-19 until it either disappears or at least recedes into the background as a threat. Concerns about inflation, cost increases, and supply-chain issues are genuine, but not
22 April 18, 2022
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