LONDON, Feb. 29, 2012 (GLOBE NEWSWIRE) -- Diversified Global Graphics Group (DG3), a leading provider of global print, technology, and graphic communication services, announced today that its DG3 (Group Holdings) Limited division (DG3 Europe) has agreed to acquire substantially all of the print related trade and assets of Sterling Financial Print Limited (Sterling). In connection with the acquisition the parties will enter into a long-term partnership whereby DG3 will exclusively supply corporate finance printing services to Sterling in support of Sterling's corporate finance business. The parties expect to close the acquisition at the earliest practicable date following its compliance with all legal and regulatory obligations.
Upon closing of the transaction, Sterling will continue to develop its corporate finance business which includes its financial reporting, information management, design, typesetting and virtual data room (Sterling X-AG) offerings.
All other assets and businesses of Sterling will be acquired by DG3 Europe on closing. The acquisition positions DG3 Europe as one of the UK's largest financial, commercial and fine art printing firms, the market leader in the production of time sensitive investment research and a major provider of corporate finance print services.
Thomas Saggiomo, DG3's Group President and CEO commented, "I congratulate Peter and his team for all their hard work on this acquisition. DG3 has grown through acquisition for most of its history and the acquisition of Sterling's manufacturing division is a natural and important addition for us. We will continue to leverage our financial position and global footprint to complete acquisitions that accelerate our integrated communication strategy."
Peter Furlonge, DG3 Europe's Chairman added, "The DG3 Europe and Sterling businesses are extremely complementary. Our businesses are very similar and this combination will enhance the services we offer our existing and new clients. We will have an unrivaled platform to support the communications needs of any European company. I'm also delighted that we will welcome the founder of Sterling, John McCormick and his team to the company. I know John well and know he and his team will make meaningful contributions to DG3 Europe."
Geoff Keating, Chief Executive Officer of Sterling, added, "Having worked with Peter Furlonge in the past and knowing DG3 Europe, I am confident there is no better acquirer for our manufacturing business as it relates to our customers and employees. The closing of this transaction will mark the execution of our strategic plan to focus our resources on supporting the complex communication requirements of the corporate finance markets with world-class solutions. Having DG3 Europe as our print partner for these solutions will give our clients access to significant resources for all their printed communications and marketing needs."
About The DG3 Group of Companies
DG3 is a leader in environmental responsibility providing worldwide communications solutions in strategic geographic markets including New York, London, Hong Kong, Tokyo, Sydney and Manila. DG3 provides its comprehensive graphic and interactive solutions to corporate, financial services, pharmaceutical and academic institutions worldwide. For more information, please visit www.dg3.com.
About Sterling Financial Print Limited
Sterling is the UK's leading end-to-end service supplier for financial print, data rooms, media and corporate communications. Sterling has earned an unrivalled reputation in the financial printing and communications industry over the past 24 years, with a pedigree of first class 24/7/365 customer service and rapid responsiveness to all of their clients' requirements. It is this ethos that has been the foundation of Sterling's continued success over the years. For more information, please visit www.sterlingfp.com.