LSC Communications
LSC Communications is an American commercial printing company based in Chicago, Illinois,[3] and, as of December 2020[update], a fully-owned subsidiary of Atlas Holdings.[4] The company was established in 2016 as part of a corporate spin-off from RR Donnelley.[5] It owns the publishers Research & Education Association and Dover Publications.
| Type | Subsidiary |
|---|---|
| Industry | Commercial printing |
| Founded | 2016 (from corporate spin-off) |
| Headquarters | 191 North Wacker Chicago, Illinois United States |
| Revenue | US$3.326 billion (2019)[1] |
| US$−157 million (2019) | |
| US$−295 million (2019) | |
| Total assets | US$1.649 billion (2019) |
| Total equity | US$−72 million (2019) |
Number of employees | 20,000 (2020)[1][2] |
| Parent | Atlas Holdings |
| Website | https://www.lsccom.com/ |
LSC is the largest producer of books in the United States.[6]
Acquisitions and divestitures
In 2017 and 2018, LSC made several purchases, including TriLiteral LLC (a book distributor owned by Harvard University Press, MIT Press, and Yale University Press),[7] Donnelley Logistics (former parent RR Donnelley's logistics business), logistics company Fairrington Transportation, Creel Printing, Publishers Press, envelope producer Quality Park, and logistics company Clark Group.[8]
In 2018, LSC announced the sale of all of its European printing operations to the Walstead Group.[8]
Failed buyout
In November 2018, Quad/Graphics announced their intent to purchase LSC in an all-stock deal.[9] The purchase was expected to double Quad's business overall, primarily in magazines, catalogs, retail inserts and books.[10] On June 20, 2019, the Department of Justice issued a press release indicating that it would sue to block the proposed purchase of LSC Communications by Quad Graphics.[11] One month later, the companies announced they would discontinue the deal rather than fight the lawsuit.[12]
2020 bankruptcy
In 2020, LSC Communications, Inc. and 21 affiliated debtors filed Chapter 11 bankruptcy in the United States District Court for the Southern District of New York.[6] The company was purchased in December 2020 by the private equity holding company Atlas Holdings.[4]
References
- ^ a b "Inline XBRL Viewer".
- ^ http://fortune.com/company/lsc-communications/fortune 500/
- ^ "About Us - LSC Communications". www.lsccom.com. Retrieved 17 April 2018.
- ^ a b staff (December 10, 2020). "Atlas Holdings purchase of LSC Communications completed". Gasconade County Republican. Retrieved 16 April 2021.
- ^ Bushey, Claire (9 November 2018). "Print deal would dethrone R.R. Donnelley as industry's No. 1". Crain's Chicago Business. Retrieved 12 November 2018.
- ^ a b "Chicago-based LSC Communications files for Ch. 11 bankruptcy after 'unprecedented' drop in print demand". Chicago Tribune. Retrieved May 10, 2020.
- ^ "LSC Buys TriLiteral; Turner Purchases Gürze Books". PublishersWeekly.com. Retrieved 2018-07-08.
- ^ a b Michelson, Mark (19 July 2018). "LSC Communications Sells Its European Operations". Printing Impressions. Retrieved 12 November 2018.
- ^ Milliot, Jim (1 November 2018). "Quad/Graphics to Buy LSC Communications". Publishers Weekly. Retrieved 12 November 2018.
- ^ Romell, Rick (31 October 2018). "Quad/Graphics could nearly double in size with $1.4 billion purchase of Chicago firm". Milwaukee Journal Sentinel. Retrieved 12 November 2018.
- ^ "Justice Department Sues to Block Quad's Acquisition of LSC". 20 June 2019.
- ^ Romell, Rick (July 23, 2019). "Quad/Graphics, LSC Communications scrap merger in face of antitrust lawsuit". Milwaukee Journal Sentinel. Retrieved 2 August 2019.