Stevenson Color, Inc. Tombstone

Case Study – Strategic Sale

Stevenson Color, Inc., headquartered in Cincinnati, Ohio, is a fully integrated provider of graphics services to branded consumer products companies and retailers.  Founded in 1926, Stevenson has more than 170 employees and is managed by the fourth generation of the founder’s family.


  • Stevenson was a fourth generation family-owned business
  • Each of the three brothers who owned the company had different exit objectives


  • Due to shareholder concerns about confidentiality and the impact on customer relationships if a sale did not go through,  Anderson LeNeave only approached a select group of six strategic buyers
  • The buyer revealed during negotiations that it was going through a sale process

Successful Solution:

  • Anderson LeNeave ran a competitive process that required interested parties to agree to definitive terms in the purchase agreement when submitting their letter of intent
  • Stevenson was sold to SGS International, a portfolio company of Onex Corporation