The Sheridan Group to acquire The Dingley Press
No leadership changes planned at large Lisbon, Maine specialty catalog printer
The Sheridan Group, a privately-held company in Maryland that owns five commercial printing companies, has signed a definitive agreement to acquire The Dingley Press of Lisbon, Maine, one of the largest printing companies in New England.

The transaction, which is subject to obtaining financing and other customary conditions, is expected to be completed later this month. Terms of the transaction were not disclosed.

The Dingley Press employs about 480 people and prints specialty catalogs. It had net sales of approximately $85 million in 2003.

Under the agreement terms, Dingley’s business will be acquired by a wholly owned subsidiary of The Sheridan Group and continue to operate as The Dingley Press. Christopher A. Pierce, president and owner, will continue as its president and chief operating officer.

“We are delighted to have The Dingley Press join The Sheridan Group,” said John A. Saxton, Sheridan’s president and CEO. “Dingley is a well-run company in a market with similar characteristics to our existing businesses.”

The Sheridan Group is a specialty printer offering a full range of printing and value-added support services to the journal, catalog, magazine, book, and article reprint markets.

Pierce has been majority owner since 1980, eight years after he joined the company and served as a key assistant to long-time owner Alexander “Sandy” Fowler.

Pierce purchased the business shortly after The Dingley Press lost L.L. Bean, its largest account, said Bill Braley, company vice president and general manager.

Pierce, who recently celebrated his 31st year with the company, said he was not actively seeking a buyer prior to The Sheridan Group’s interest.

The Dingley Press operates four shifts, 24 hours a day, seven days a week. All but about 40 of the 480 employees are full-time workers. The company operates five web presses. The oldest is a 1987 Baker-Perkins G14. The newest is a Heidelberg Sunday web press with gapless technology. The Heidelberg produces 48-page signatures. The eight-unit double web Baker Perkins has 32-page signature capability. Also on the production floor is a second Baker Perkins and two Mitsubishi web presses.

The workflow is computer to plate. All printing is four-color process printing of catalogs that span various industries. Print runs average 600,000 to 700,000 pieces. The smallest runs are 200,000. Braley said the company operates a fulfillment operation just down the road from the Lisbon production center.

The Dingley Press acquisition will be The Sheridan Group’s third major print manufacturing facility in New England. The Maryland-based company owns Capital City Press in Montpelier, Vt., and the Dartmouth Printing Company in Hanover, N.H.

Braley said while there doesn’t appear to be much synergy with regard to the product lines under the Sheridan ownership, there is buying power capability for consumables such as ink and printing plates.

“We’re excited about the acquisition,” Pierce said. “We see this as a good strategic fit for both companies.”

A long and storied history
Nelson Dingley founded the Lewiston Journal newspaper in 1857 with his brother Frank. According to sketchy company history, it appears Frank headed up the printing operation of the growing newspaper and at some point formed the Lewiston Print Shop.

Nelson Dingley went on to serve as governor of Maine in 1873-74. The Journal Print Shop was renamed The Dingley Press. It was sold to Walter Dumser in 1928 and moved to Portland, then moved to Freeport in 1935.

Fowler bought the company in 1955 and ran it until he sold it to Pierce in 1980. In 1989, Pierce moved the company to its present home in Lisbon, just 15 miles from Freeport.