DUNDEE, United Kingdom & VENLO, Netherlands--(BUSINESS WIRE)--Tradeprint, the leading trade printer in the UK, is joining Cimpress N.V., the world leader in mass customization. The acquisition of Tradeprint was completed on July 31, 2015.
“The number one job of everyone at Tradeprint is to make our customers successful,” said managing director Rod Scrimgeour. “We are proud to provide outstanding quality, reliability, delivery speed and service at very competitive prices. Thanks to the financial, technological, product breadth and supply chain strength at Cimpress, we look forward to delivering even greater value to our customers.”
“Resellers and graphic professionals greatly value reliable, professional, rapid delivery of high-quality, price-competitive products,” said Robert Keane, president and chief executive officer of Cimpress. “With Tradeprint, we’ve found a partner that delivers consistently on those criteria thanks to a highly talented and focused team. We welcome them to Cimpress and look forward to helping them build upon that very strong foundation.”
Based in Dundee, Tradeprint specializes in small-format printed products including flyers, leaflets, business cards, posters, letterheads and compliment slips. Dedicated account managers share a site with the production team and can work with customers on technical advice.
“We believe that speed is one of the next frontiers in the trade print business. Tradeprint offers same day production and next day delivery throughout the UK. That is an incredibly valuable service to resellers who are usually operating under very tight deadlines” said Keane. “Beyond that and other aspects of Tradeprint’s already robust capabilities, the Cimpress mass customization platform will enable them to increase the breadth and depth of the product range offered to their customers, and to benefit from our scale and knowledge in manufacturing and supply chain operations.”
Tradeprint, winner of the PrintWeek Awards Company of the Year in 2014, is the leading trade printer in the UK. Since 2009, Tradeprint has pioneered a new approach to printing. With the economies of scale and constantly developing new technologies, Tradeprint has made premium quality print and cutting edge print production accessible, reliable, and, most important of all, affordable for local printers, print buyers, agencies, brand managers and franchises across the UK. Tradeprint is a software driven quality trade printer delivering an outstanding customer experience.
Cimpress N.V. (Nasdaq: CMPR) is the world leader in mass customization. For 20 years, the company has focused on developing software and manufacturing capabilities that transform traditional markets in order to make customized products accessible and affordable to everyone. Cimpress’ portfolio of brands includes Vistaprint, Albelli, Drukwerkdeal, Pixartprinting, Exaprint and others. That portfolio serves multiple customer segments across many applications for mass customization. The company produces more than 46 million unique ordered items a year via its network of computer integrated manufacturing facilities. To learn more, visit http://www.cimpress.com.
Cimpress and the Cimpress logo are trademarks of Cimpress N.V. or its subsidiaries. All other brand and product names appearing on this announcement may be trademarks or registered trademarks of their respective holders.
Restricted Share Awards
As partial consideration for the acquisition of Tradeprint, Cimpress issued a loan note to the company’s founder, Paul Anderson, which was subsequently exchanged for 65,050 restricted ordinary shares of Cimpress. Subject to Anderson’s continued employment with the company on each vesting date, 25% of these shares will vest on August 1, 2016 and 75% of these shares will vest on August 1, 2017. If, prior to August 1, 2017, the company terminates Anderson’s employment without cause, then Anderson’s shares will continue to vest in accordance with the vesting schedule described above. Cimpress also awarded an aggregate of 18,557 restricted shares to several members of Tradeprint’s senior management team: Roderick Scrimgeour received 9,476 restricted shares, Alan Stirling received 4,343 restricted shares, Sharon Downie received 2,764 restricted shares, and Stuart Mason received 1,974 restricted shares. Subject, in each case, to the recipient’s continued employment with the company on each vesting date, 25% of such recipient’s shares will vest on each of August 1, 2016, August 1, 2017, August 1, 2018 and August 1, 2019. If, prior to August 1, 2019, the company terminates any such recipient’s employment without cause, then such recipient’s shares will continue to vest in accordance with the vesting schedule described above. The restricted shares being transferred or awarded to Anderson and the Tradeprint senior management team as described above constitute inducement awards in compliance with Nasdaq Marketplace Rule 5635.
This press release contains statements about our future expectations, plans, and prospects of our business that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, including but not limited to our expectations for the growth and success of our and Tradeprint’s business. Our actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including but not limited to our failure to develop our mass customization platform or to realize the anticipated benefits of such a platform; costs and disruptions caused by acquisitions and strategic investments; the failure of the businesses we acquire or invest in to perform as expected; our failure to execute our strategy; our inability to make the investments in our business that we plan to make; our failure to manage the growth and complexity of our business and expand our operations; general economic conditions; and other factors described in our Form 10-Q for the fiscal quarter ended March 31, 2015 and the other documents we periodically file with the U.S. Securities and Exchange Commission.
In addition, the statements and projections in this press release represent our expectations and beliefs as of the date of this press release, and subsequent events and developments may cause these expectations, beliefs, and projections to change. We specifically disclaim any obligation to update any forward-looking statements. These forward-looking statements should not be relied upon as representing our expectations or beliefs as of any date subsequent to the date of this press release.