Blackstreet Capital Severs Ties with AlphaGraphics CEO Kevin Cushing

I recently posted a Press Release that spoke about Alphagraphics (the "franchisor") being acquired by a private equity group, Blackstreet Capital

Here's an article that appeared on whattheythink.com, this morning, about the departure of Alphgraphics' CEO.

(Reprographers, if you are not already dialed into whatheythink.com, I would suggest that you do so, for even though the WTT web-site is mostly directed at companies involved in the printing industry, they do publish articles that are sometimes of interest to Reprographers.)

Blackstreet Capital Severs Ties with AlphaGraphics CEO Kevin Cushing

Thursday, January 26, 2012

By WhatTheyThink Staff

WhatTheyThink has learned that Blackstreet Capital, which recently acquired the AlphaGraphics franchise network, has chosen to sever its relationship with CEO Kevin Cushing, who has served in that role since 2004. Cushing also owns a couple of AlphaGraphics franchises, which he plans to continue to operate. Art Coley, formerly Vice-President of Global Development, has been promoted to interim President of AlphaGraphics.

Senior Editor Cary Sherburne spoke with former AlphaGraphics CEO this morning upon learning of his exit from the company. Cushing said, “Leading AlphaGraphics was one of the richest experiences of my life, for me and for my family. It was challenging, and I leave the role feeling that I was a genuine, authentic and forward-thinking leader. I will look back and know that I gave it 1000 % of my time talent and energy, which the results demonstrate. This was a team thing, not a Kevin thing--I was fortunate to have a great team and terrific franchisees. Every owner is entitled to run the business as they choose, and Blackstreet Capital wanted to start with a clean slate. I am in great spirits and looking forward to the next new thing… and I am taking calls!”

Sherburne adds, “I have worked with Kevin extensively over the years, and found him to be an exceptional leader, as well as a genuinely kind and caring person. I had the extreme pleasure of helping craft AlphaGraphics’ NetVision4 based on Kevin’s vision for the future, and that was an amazing experience. The fact that the AlphaGraphics network wholeheartedly embraced this challenging and dynamic path forward speaks highly of the relationship he had with the owners and their respect for him. ”

WhatTheyThink is attempting to secure a comment from AlphaGraphics headquarters and/or Blackstreet Capital.

Blackstreet Capital Affiliate Purchases AlphaGraphics

Thursday, January 19, 2012

Press release from the issuing company

Business and marketing communications franchisor AlphaGraphics, Inc., formerly owned by the UK-based G A Pindar & Son Ltd., has been purchased by an affiliate of Maryland-based private equity fund Blackstreet Capital Partners II. The transaction closed on January 11, 2012.

“We’re extremely excited to add the AlphaGraphics brand to our portfolio,” said Blackstreet Capital Managing Director Lawrence Berger. “This is a unique deal for our team; Blackstreet typically purchases underperforming companies. AlphaGraphics, which is healthy and profitable, does not fall into this category. The company has not only weathered some difficult economic times, but continues to lead its industry in average center sales and net center growth.”

According to Berger, a thorough examination of the Utah-based company’s business model revealed a solid vision and strategy, with franchisees and a management team qualified to execute, which is what drew Blackstreet to AlphaGraphics. “We look forward to supporting this well-positioned brand to a higher level of success through the special relationship that exists between the franchisor and its talented franchisees.”

Kevin Cushing, CEO of AlphaGraphics added, “We're grateful for the opportunity to have Blackstreet Capital as our new owners. They have the business experience and track record to help us more efficiently achieve our goal of becoming the leading provider of business and marketing communications to small- and medium-sized businesses. It's a momentous time for our AlphaGraphics Service Center team, as well as our network of nearly 280 franchise business owners. Their ownership adds stability to our future and ensures that our headquarters remain in Salt Lake City.”

AlphaGraphics business centers offer a complete range of print, visual communications and marketing products and solutions, including full-service digital, offset and large format printing; design services; mailing and one-to-one marketing services; promotional products and digital archiving.

For more information about AlphaGraphics, please contact Cassie Salt at 801-595-7254 or visit www.alphagraphics.com.