PE-Owned Ohio Printers Seek Ch. 11 As Buyer Looms

Law360, Wilmington (May 22, 2013, 7:24 PM EDT) -- Two Ohio-based sister commercial printing companies, both owned by private equity firm Wellspring Capital Management LLC, filed for Chapter 11 bankruptcy protection Wednesday with a prepacked plan in hand and rival company Bang Printing of Ohio at the ready with a $19 million stalking horse bid.

The firms' parent TPO Hess Holdings Inc., which has also filed for bankruptcy, cited a sharp downturn in the commercial printing market starting in 2006 coupled with the recent economic crisis as two of the main reasons it sought Chapter...
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