Cenveo

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Cenveo, Inc
Public
Traded as NASDAQCVO
Industry Diversified Printing Company
Area served
U.S., Canada, India, Asia, Caribbean Rim
Key people
Robert Burton, Sr. (CEO)
Products Commercial printing, envelopes, label manufacturing, packaging and publisher services.
Revenue Decrease $1.66 Billion (2016)[1]
Increase $0.158 Billion (2016)[2]
Increase $0.068 Billion (2016)[2]
Total assets Decrease $0.913 Billion (2016)[1]
Total equity Increase $-0.590 Billion (2016)[1]
Number of employees
Decrease 7,300 (2016)[3]
Subsidiaries Lightning Labels, Dealer, Discount Labels, Lancer Label, Synergy, Rx Technology, Nashua (labels); Gilbreth, Rex (packaging); Quality Park, National Footprint (envelopes); Cadmus (journal, book
Website cenveo.com

Cenveo is a company based in Stamford, Connecticut engaged in the manufacture of various print-related products.[4] Founded in 1921 as Denver-based Rockmont Envelope, the company's products and services include printed labels, packaging and digital print products, print magazine and book solutions, mailing solutions and creative services, and inventory and warehouse management software.[5]

History[edit]

Before changing its name to Cenveo, the company was known as Mail-Well, which was derived from Denver's Rockmont Envelope.[6] After changing ownership several times and acquiring and divesting various label and packing operations, the company changed its name to Cenveo in 2004.[7] Cenveo spent the next few years streamlining its product and service offerings, adding Cadmus Communications to its company lineup in 2007, which made Cenveo one of the "largest printing companies in North America." [8]

Acquisitions and partnerships[edit]

Under its new name and corporate identity, Cenveo first attempted to purchase Banta Corporation, a Wisconsin-based printing and supply chain management company, in August 2006. The $1.21 billion offer was turned down by Banta's then-chairperson and CEO Stephanie Streeter, who then sold the company months later to RR Donnelley for $1.3 billion.[9][10]

After Cenveo successfully purchased Cadmus Communications in 2007, which gave Cenveo a stronger hold on the scientific and technical journal-printing market, it sought to add other companies to its expanding operations. Cenveo acquired Commercial Envelope and PC Ink, otherwise known as Printegra, also in 2007, which extended product and service offerings to the printed envelope, label and business form industry.[11][12]

Cenveo focused next on purchasing companies to expand its commercial offerings, buying California-based Madison/Graham ColorGraphics and Rex Corp. in 2007 and 2008, respectively.[13]

The company did not add another company to its growing list of acquisitions until 2009 when it purchased Nashua Corporation, which increased Cenveo's offerings in the specialty paper and pharmaceutical label industry.[14]

Cenveo also made acquisitions in the publisher services segment by acquiring Glyph International (2010)[15] and Nesbitt Graphics (2011),[16] both full service book production companies.

In 2012, Cenveo sold its Forms and Business Documents Group to Ennis.[17] In September 2013, Cenveo purchased the operating assets of its bankrupt competitor, National Envelope Corporation, for $25 million.[18]

By the end of 2015, the Burton family will have received over $70 million in compensation from their Cenveo employment.

Board of directors[edit]

  • Robert G. Burton, Sr. (2005 to present) - Chairman and CEO, Cenveo; Founder, Chairman and CEO, Burton Capital Management, LLC; former CEO, Moore Corporation Limited and World Color Press.[19]
  • Robert G. Burton, Jr. (2005 to present) - President, Cenveo; former President of Corporate Operations, Cenveo; former VP of Investor Relations, Treasury, HR and Legal, Cenveo; former President, Burton Capital Management, LLC.[20]
  • Scott Goodwin (2012 to present) - CFO, Cenveo; former Assistant Controller, Senior VP of Finance, Corporate Controller and Chief Accounting Officer, Cenveo.[21]
  • Mark S. Hiltwein (2007 to present) - President of the Envelope Group, Cenveo; former DFO and President of Field Sales and Manufacturing, Cenveo; former President of Smartshipper.com and Executive VP and CFO of Moore Wallace Incorporated.[22]
  • Ian Scheinmann (2010 to present) - Vice President of Legal Affairs, Cenveo; former Cenveo real estate counsel for Rudoler & DeRosa, LLC.[23]
  • Harry Vinson (2007 to present) - President of Cenveo Print, Cenveo; former Senior Vice President of Purchasing and Logistics, Cenveo; former Senior Vice President of the Publication and Directory Group, Moore Wallace Incorporated.[24]
  • Gerald Armstrong - Independent Director, Cenveo; current Managing Director, Arena Capital Partners, LLC.[25]
  • Leonard Green - Independent Director, Cenveo; current managing partner, The Green Group financial services.[26]
  • Mark Griffin - Independent Director, Cenveo; founder, Eagle Hill School in Greenwich, Connecticut.[27]
  • Robert Obernier - independent Director, Cenveo; founder, President and CEO, Horizon Paper Company; Board Member and former Chairman of the Norwalk Hospital Foundation.[28]

See also[edit]

References[edit]

  1. ^ a b c "Financial Statements for Cenveo - Morningstar". Morningstar.com. 2016-12-31. Retrieved 2017-03-12. 
  2. ^ a b "Financials for Cenveo". Google Finance. 2016-12-31. Retrieved 2017-03-12. 
  3. ^ "Fortune 1000 page for Cenveo". Fortune. 2016-12-31. Retrieved 2017-03-12. 
  4. ^ Company Profile Hoovers
  5. ^ Products and Service Offerings In January 2018 Cenveo filed for Chapter 11 bankruptcy citing overwhelming debt to multiple lenders.
  6. ^ [1] Hoovers
  7. ^ Company Name Change
  8. ^ Cadmus Marketwatch
  9. ^ Banta Rejection Milwaukee Business Journal
  10. ^ RRD Buys Banta
  11. ^ Commercial Envelope
  12. ^ Printegra
  13. ^ ColorGraphics
  14. ^ Nashua
  15. ^ Glyph International Archived May 15, 2012, at the Wayback Machine.
  16. ^ Nesbitt Graphics Archived August 10, 2013, at the Wayback Machine.
  17. ^ Divestiture to Ennis
  18. ^ What They Think: "Cenveo Officially Acquires National Envelope with Close of Sale" September 17, 2013
  19. ^ http://www.cenveo.com/burton.htm
  20. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=1621396
  21. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=1727224
  22. ^ http://www.cenveo.com/hiltwein.htm Archived April 23, 2013, at the Wayback Machine.
  23. ^ http://www.cenveo.com/scheinmann%20.htm
  24. ^ http://www.cenveo.com/vinson.htm Archived April 23, 2013, at the Wayback Machine.
  25. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=1099921
  26. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=678343
  27. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=678344
  28. ^ https://www.reuters.com/finance/stocks/officerProfile?symbol=CVO&officerId=678349