Chartwell is pleased to announce The Printer, Inc., a leading direct mail marketing firm serving casino clients, has transitioned ownership to an Employee Stock Ownership Plan (“ESOP”). In its second generation of ownership, the shareholders of The Printer, Inc. (“TPI”) explored ownership transition alternatives that would preserve its legacy and elected to sell to an ESOP to reward its employees for their past, current, and future service.
Chartwell was engaged by TPI to act as exclusive financial advisor for the 100% ESOP sale transaction and placement of transaction financing with a commercial bank. Chartwell presented multiple transaction scenarios to determine the optimal ESOP ownership transition structure, allowing the shareholders to elect IRC Section 1042 and defer capital gains taxes, while enabling the business to maintain its culture, governance, and identity post-closing. Chartwell also worked with TPI to better align its executive compensation plan with the success of the business, implementing a long-term incentive plan, providing a retention mechanism and additional incentive to select management members.
“Working with Chartwell was an exceptional experience from start to finish. Their professionalism, depth of expertise, and genuine commitment to our goals gave me complete confidence throughout the ESOP sale process. Chartwell not only delivered outstanding results, they did so with integrity and care every step of the way.”
– Bill Benskin, President, TPI
About The Printer, Inc.
Based in Des Moines, Iowa, TPI serves hundreds of prominent casino clients across the U.S. from four facilities strategically located across the country to reduce mailing times. Founded in 1973, TPI employs approximately 300 employees and provides variable data printing and direct mail marketing, coupled with proprietary mobile application development expertise and technology-driven email marketing services, connecting casinos to over 35 million players each month.
Chartwell Contact
For additional information on this transaction, please contact Wil Becker. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.