Friday, November 29, 2013
Service Point USA’s assets purchased by The Color Company. (And, The Color Company has also purchased the assets of CFI.)
I received an e-mail, this morning, from Robert Feld of The Color Company, and he provided me a copy of the Press Release you’ll read below.
So, The Color Company has, in fact, purchased the assets of Service Point USA, Inc. And, The Color Company has also purchased CFI (Chris Fowler International), the “financial printing” part of SP’s business.
COLOR COMPANY LIVES UP TO THE ROOTS OF THE NAME
Press Release, 29th November 2013
It is announced today that Color Company 1 Inc., a wholly owned subsidiary of the Color Company (TM) Limited domiciled in the UK has acquired the entire assets of Servicepoint US Inc. (“Spusa”) and CFI Inc. (“CFI”) from the syndicate of bank lenders to Service Point SA under the aegis of Ernst and Young administrators to GPP Capital PLC.
Spusa and CFI ceased certain operations on Friday 8th November 2013. Before closing they operated 7 locations in the Philadelphia to Boston corridor offering printing, finishing, wide format and digital reprographics as well as serving nationwide many architectural and construction businesses through their On Site Services division.
Elgin Loane, Managing Director commented “In London our brand has been spelt the American way Color instead of Colour for years so the addition of this acquisition is indeed heartily welcome. Many of our London based clients have offices on the US Eastern sea board so the synergy is self-evident. Spusa and CFI were managed at a distance from Barcelona but our management team will be far more supportive by being hands on.”
He added “the task ahead of us is to re-establish the business and this we have already started at New Haven CT where the business has reopened where the previous staff have re-joined and started work immediately on re-engaging with their clients. This process will continue in the other US major cities.”
Tel: +44 208 900 4220
Cell:+44 7730 646480
Color Company 1 Inc.
85 Willow St, New Haven, CT 06511, United States
One Lindsey Street
City of London EC1A 9HP
On a related note, we received this comment, on November 27th, from Greig Fairclough of The Color Company:
“Your article speculates we could be working with a Kevin Eyers which is untrue.”
Posted by Joel Salus at 7:18 AM