LSC Communications explained

LSC Communications, Inc.
Type:Subsidiary
Industry:Commercial printing
Foundation:2016
(from corporate spin-off)
Location:191 North Wacker
Chicago, Illinois
United States
Revenue: US$3.326 billion (2019)[1]
Operating Income: US$ million (2019)
Profit: US$ million (2019)
Assets: US$1.649 billion (2019)
Equity: US$ million (2019)
Num Employees:20,000 (2020)[2]
Parent:Atlas Holdings

LSC Communications is an American commercial printing company based in Chicago, Illinois,[3] and,, 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.

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]

Notes and References

  1. Web site: Inline XBRL Viewer.
  2. http://fortune.com/company/lsc-communications/fortune 500/
  3. Web site: About Us - LSC Communications. www.lsccom.com. 17 April 2018.
  4. News: staff . Atlas Holdings purchase of LSC Communications completed . 16 April 2021 . Gasconade County Republican . December 10, 2020 . en.
  5. News: Bushey . Claire . Print deal would dethrone R.R. Donnelley as industry's No. 1 . 12 November 2018 . Crain's Chicago Business . 9 November 2018 . en.
  6. Web site: Chicago-based LSC Communications files for Ch. 11 bankruptcy after 'unprecedented' drop in print demand. Chicago Tribune. 14 April 2020 . May 10, 2020.
  7. Web site: LSC Buys TriLiteral; Turner Purchases Gürze Books. PublishersWeekly.com. 2018-07-08.
  8. News: Michelson . Mark . LSC Communications Sells Its European Operations . 12 November 2018 . Printing Impressions . 19 July 2018.
  9. Milliot . Jim . Quad/Graphics to Buy LSC Communications . Publishers Weekly . 1 November 2018 . 12 November 2018.
  10. News: Romell . Rick . Quad/Graphics could nearly double in size with $1.4 billion purchase of Chicago firm . 12 November 2018 . Milwaukee Journal Sentinel . 31 October 2018 . en.
  11. Web site: Justice Department Sues to Block Quad's Acquisition of LSC. 20 June 2019.
  12. News: Romell . Rick . Quad/Graphics, LSC Communications scrap merger in face of antitrust lawsuit . 2 August 2019 . Milwaukee Journal Sentinel . July 23, 2019.