Stadium Capital continues building its position in American Reprographics Co (ARC) shares (information updated for purchases through 12/7/2011)

I’ve done several previous posts on Reprographics 101 about Stadium Capital continuing to build its position in ARC shares. Today is yet another “update post.”

Since the last time I posted about Stadium Capital’s ownership (and purchases) of ARC shares, Stadium Capital has completed three additional purchases of ARC shares. Here’s the latest table reflecting Stadium Capital’s purchases of ARC shares from August 23, 2011 through December 7, 2011.

Note that on December 5^th , Stadium Capital purchased 143,472 shares, its largest individual-day purchase of ARC shares since August 25^th.

At the rate Stadium Capital is purchasing ARC shares, it might not be too long before Stadium Capital’s position in ARC shares is greater than Micro Device’s position in ARC shares. (Micro Device is owned by Mohan and Suri.)

Transaction Date	Purchase Price	# of Shares Purchased	# of shares owned, after purchase	%age of O/S Stock Owned
8/23/11	$3.79	30,600	4,676,921	10.12%
8/24/11	$3.88	17,991	4,694,912	10.16%
8/25/11	$3.80	244,000	4,938,912	10.69%
9/2/11	$3.54	29,315	4,968,227	10.75%
9/6/11	$3.45	1,833	4,970,060	10.75%
9/8/11	$3.57	6,591	4,976,651	10.77%
9/9/11	$3.49	11,641	4,988,292	10.79%
9/12/11	$3.54	17,256	5,005,548	10.83%
9/20/11	$3.56	13,737	5,019,285	10.86%
9/21/11	$3.50	9,170	5,028,455	10.88%
9/26/11	$3.47	5,500	5,033,955	10.89%
9/28/11	$3.33	27,524	5,061,479	10.95%
9/29/11	$3.29	22,203	5,083,682	11.00%
9/30/11	$3.35	41,019	5,124,701	11.09%
10/3/11	$3.20	18,348	5,143,049	11.13%
10/17/11	$3.64	15,497	5,158,546	11.16%
11/1/11	$3.89	2,201	5,160,747	11.17%
11/9/11	$4.29	14,605	5,175,352	11.20%
11/15/11	$4.30	804	5,176,156	11.20%
11/16/11	$4.34	8,304	5,184,460	11.22%
11/17/11	$4.28	5,225	5,189,685	11.23%
11/23/11	$3.99	10,669	5,200,354	11.25%
11/29/11	$3.94	2,517	5,202,871	11.26%
12/5/11	$4.29	143,472	5,346,343	11.57%
12/6/11	$4.14	1,718	5,348,061	11.57%
12/7/11	$4.25	9,169	5,357,230	11.59%

Stadium Capital had amassed 4,646,321 ARC shares prior to August 23^rd, and I’m pretty sure that those earlier share purchases were completed when ARC’s stock price was substantially higher than it’s been of late.