Board Converting News, June 14, 2021

NDP: Best Time To Sell (CONT’D FROM PAGE 36)


for some of them, the damage done by the pandemic has been too severe. These firms have been staying open mostly by virtue of their PPP loans. Once that resource is exhausted, however, they will have some tough choices to make. Liquidating press equipment and other assets probably won’t be advisable, given that liquidation values currently are low. We think this will lead to an uptick in opportuni- ties for tuck-ins and cashless mergers once troubled own- ers realize there are alternatives to locking the doors and selling everything off. When done correctly, these trans- actions create value for buyer and seller alike, even if the A year ago, in a forecast published in these pages during the some of the worst moments of the pandemic, we acknowledged that in the short term, we didn’t know what would happen – the upheaval in the economy had been too sudden, and it was too soon to measure the ex- tent of the loss. We also said that as the threat of the virus started to fade and the economy began to rebound, M&A activity would rebound along with it. seller is struggling financially. The Watchword Is Optimism We’re sticking by that prediction. Today we have vac- cines, hope, and a powerful pent-up desire to get back into the normal rhythms of business. The printing and packaging industries remain among the most highly frag- mented industries in the U.S., and fragmented industries inevitably consolidate through M&As. Owners of printing and packaging companies who are ready to move on to the next stages of their lives continue to search for profit- able exit strategies. We don’t know how far this rebound will take us, but today activity is strong and proposed changes in capital gains rates are driving many to the market. As always, those thinking about deals of their own on either the buy- ing or the selling side are invited to discuss their aspira- tions with us. We’re in the listening business. New Direction Partners is an investment and financial advisory firm formed by Peter Schaefer, Paul Reilly, Jim Russell and Tom Williams to serve the printing & packag- ing industries. Visit


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EskoWorld 2021 Focuses On Digital Transformation

The benefits of digital transformation were the key take- aways from this year’s two EskoWorld events. Running concurrently, an EskoWorld conference program dedicat- ed to suppliers was complemented by an event schedule geared toward brands. Over the course of the events, hun- dreds of packaging professionals gained insight into how automating processes and deploying cloud-based solu- tions can boost efficiency and productivity in packaging.


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June 14, 2021

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