LSC Communications
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LSC Communications
LSC Communications, Inc.
TypeSubsidiary
IndustryCommercial Printing
Founded2016
(from corporate spin-off)
Headquarters191 North Wacker
Chicago, Illinois
United States
Key people
Thomas Quinlan III (CEO)
RevenueDecrease US$3.326 billion (2019)[1]
Decrease US$−157 million (2019)
Decrease US$−295 million (2019)
Decrease US$1.649 billion (2019)
Decrease US$−72 million (2019)
Number of employees
20,000 (2020)[1][2]
ParentAtlas Holdings
Websitehttps://www.lsccom.com/

LSC Communications is an American commercial printing company based in Chicago, Illinois,[3] and, as of December 2020, 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]

References

  1. ^ a b http://www.sec.gov/ix?doc=/Archives/edgar/data/1669812/000156459020007989/lksd-10k_20191231.htm
  2. ^ http://fortune.com/company/lsc-communications/fortune 500/
  3. ^ "About Us - LSC Communications". www.lsccom.com. Retrieved 2018. CS1 maint: discouraged parameter (link)
  4. ^ a b staff (December 10, 2020). "Atlas Holdings purchase of LSC Communications completed". Gasconade County Republican. Retrieved 2021.
  5. ^ Bushey, Claire (9 November 2018). "Print deal would dethrone R.R. Donnelley as industry's No. 1". Crain's Chicago Business. Retrieved 2018. CS1 maint: discouraged parameter (link)
  6. ^ a b "Chicago-based LSC Communications files for Ch. 11 bankruptcy after 'unprecedented' drop in print demand". Chicago Tribune. Retrieved 2020. CS1 maint: discouraged parameter (link)
  7. ^ "LSC Buys TriLiteral; Turner Purchases Gürze Books". PublishersWeekly.com. Retrieved . CS1 maint: discouraged parameter (link)
  8. ^ a b Michelson, Mark (19 July 2018). "LSC Communications Sells Its European Operations". Printing Impressions. Retrieved 2018. CS1 maint: discouraged parameter (link)
  9. ^ Milliot, Jim (1 November 2018). "Quad/Graphics to Buy LSC Communications". Publishers Weekly. Retrieved 2018. CS1 maint: discouraged parameter (link)
  10. ^ Romell, Rick (31 October 2018). "Quad/Graphics could nearly double in size with $1.4 billion purchase of Chicago firm". Milwaukee Journal Sentinel. Retrieved 2018. CS1 maint: discouraged parameter (link)
  11. ^ https://www.justice.gov/opa/pr/justice-department-sues-block-quad-s-acquisition-lsc
  12. ^ Romell, Rick (July 23, 2019). "Quad/Graphics, LSC Communications scrap merger in face of antitrust lawsuit". Milwaukee Journal Sentinel. Retrieved 2019. CS1 maint: discouraged parameter (link)

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