Hot Off the Press: How Alaska Printing is extending its reach.

• Author: Newman, Amy
• Position: MANUFACTURING

Adam Williams has a plan: consolidate Anchorage's printing industry and expand the services at his commercial print shop. It's admittedly ambitious, especially considering that when he purchased Alaska Printing three years ago, he had zero experience in the industry.

"I didn't know anything about printing." he says with a laugh. "I thought, 'Isn't printing dead?"

He quickly learned that it's neither dead nor dying. Instead, printing is evolving, and Williams intends to evolve with it. While the industry as a whole is growing, certain segments are driving that growth more than others. The label and packaging services segment, which includes product labels and package design (think boxes emblazoned with company logos), is forecast to grow 3 percent annually. Traditional printing services, by comparison, is projected to grow more slowly, at 1 percent to 2 percent annually.

Williams' consolidation plan has already begun, as he finalizes the purchase of Northern Printing, which has provided commercial printing services across Alaska since 1967. The merger increases Alaska Printing's capacity to meet its clients' needs and expands the scope of services available to Northern Printing's clients.

Like his purchase of Alaska Printing in 2019, Williams' acquisition of Northern Printing is the result of an opportunity presenting itself at the right time.

A Deal-breaker Brings a Silver Lining

Williams' entry into the printing industry was a combination of circumstance and an opportunity that ticked all the right boxes. He'd worked as a materials coordinator and food purchaser on the North Slope for fifteen years when his employer announced an intent to move to a 4/2 schedule. The change was a deal-breaker for Williams.

"I didn't want to be away from my wife for eight months," he explains.

Williams' solution was to go into business for himself. Rather than start from scratch, his wife suggested they purchase an existing business. The couple created a list of criteria that would make the plan feasible: annual revenue of at least $1 million and $150,000 to $200,000 in EBITDA (earnings before interest, taxes, depreciation, and amortization); a manager who could teach Williams and help run day-to-day operations; established clientele with an 80 percent to 90 percent repeat customer base; and room to grow through consolidation.

What checked every box was Alaska Printing, a commercial print shop whose owner was ready to move on after more than forty-five years...