Sunday, October 24, 2010

Service Point announces new guy at the helm of its USA operations

Earlier this year, Service Point Solutions "corporate" announced that it replaced its then overall Managing Director (Rafael Lopez-Aparicio Areilza). Now, there's been a change in management at Service Point's USA operations.

Service Point issued a Press Release on October 20, 2010 to announce that Kevin Eyers has assumed the leadership role at its USA operations. (Service Point's USA operations are based in Boston, MA.)

Here's the text of the SP Press Release:

Kevin Eyers to head up Service Point’s US business.

Kevin is currently at the helm of SPS’ fastest-growing subsidiary this year, YTD +13% His main remit at SP US will be to fortify targeted core sectors such as finance and education The plan is to open a new production centre in New York to enhance service standards across the entire financial segment and to cater print on-demand services

October 20th 2010. - Service Point Solutions, S.A (ticker: SPS.MC) has appointed Kevin Eyers to run its US business. The US subsidiary accounts for roughly 9% of the group’s topline, with revenue last year of €20 million.

Until recently, Kevin Eyers was the head of CFI, Service Point’s business specialised in the provision of reprographics services to the financial sector, a position he held for 15 years. This segment has been the company’s fastest-growing this year and last.

Mr. Eyers will take up his new role over the coming months. His priority near-term target is business development at the US operation in the education and financial sectors, those growing the fastest across the entire group. Building on his extensive track record, Mr. Eyers will launch multiple initiatives in the heart of the US financial system, New York, including a new digital production and offset centre to enable the company to meet the anticipated growth in this segment over the coming years. Service Point will base its tailored services targeted at the healthcare and education sectors in Boston, while the Washington DC production centre will prioritise the public sector.

SPS expects the combination of its proactive marketing strategy, organisational transformation and strategic focus on the fastest-growing segments to bear fruit in terms of growth rates near term.

According to Joan Carles Peiro, COO of Service Point Solutions, “With this appointment, Service Point is vouching strongly for its US subsidiary. Kevin has a tremendous track record in the world of document management within the financial arena. Judging by his successes in the past, he is bound to build SPS US into a benchmark player in the American market”.

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Joel's comments:

Prior to this announcement from SP, Bill Sullivan was the leader of SP's USA operations. The press release does not indicate if Bill is staying on, or not staying on, with SP, and, if so, in what position. It's my understanding that Bill has been with SP for more than 12 years, if not longer than that.

In the press release, SP indicates that sales revenues for SP USA were about 20 Million Euro "last year." (At today's exchange rate, per Google Finance, 20 million Euro equates to just over $28 million USD.) I may be completely wrong about this, but it's my recollection that SP USA's sales were about $43 million USD around 2006-7. If my recollection is accurate (or close to accurate), that would mean that SP USA's revenues for 2009 were about 35% down from SP USA's "peak" revenues. Comparatively, ARC's revenues peaked in 2008 at $700 million, and ARC's revenues for 2009, at $500 million USD; revenues for 2009 were about 28.5% off ARC's peak year. One factor that SP USA had to contend with, that ARC did not, was competition for AEC OnSite deals from Archimedia Solutions Group (Boston-area-based company), led by Mark DiPasquale and Jane Simmons, both formerly of SP USA.

As to Kevin Eyers, the new guy at the helm of SP USA, I wish him the best of luck with his new position at SP USA. It will be interesting to see if Kevin takes SP USA in a different direction. Prior to now, SP USA has predominantly been an "AEC reprographics" enterprise. Kevin's expertise, per what I've heard and read, is in the "financial services" sector of the document management and printing industry. It will be interesting to see the direction Kevin takes SP USA. I am certain of one thing. The reprographers in SP's markets in the U.S. will be following developments at, and the direction of, SP USA.

1 comment:

  1. Once again, the company appears to be lost. As soon as legislation is passed, the SEC will allow financial printing to go the way of all other printing - PDFs you can download. Which niche will SP gravitate to then? We should start a pool.