Robert Wendt and Greg Mierow, employees of Brookfield-based Heritage Printing, have purchased the company from its founder, Joseph Tarillion. Tarillion had served in an advisory position for the past four years. Wendt and Mierow are part of a management team that has been in place at Heritage for nine years. Wendt most recently served as executive vice president and now serves as president. Mierow most recently served as operational manager and continues to oversee company operations as vice president.
Both have more than 25 years of experience in the printing industry.
The acquisition was in the form of a combination of personal finances from Wendt and Mierow, bank financing and seller financing, according to Wendt, who declined to disclose the price of the sale.
The acquisition was done to ensure the continuity of the company and was considered a succession plan for Heritage after Tarillion retired, Wendt said. The plan was discussed for about one year and negotiated over the course of three months.
“Our intention is to grow the business more aggressively going forward,” Wendt said.
Heritage was founded in 1972 and currently has 36 employees and $4.5 million in annual sales.
The new ownership team plans to double the company’s annual revenue and add at least 20 employees in the next five years, Wendt said.
“The company doubled in size from $2.5 million in sales to $4.5 in the past six years, and we fully expect to double again in the next five years,” Wendt said.
Heritage currently generates product literature, marketing collateral and direct mail for clients in southeastern Wisconsin. The company also offers warehousing fulfillment, digital printing, personalized printing and mailing services, Wendt said.
Changes in the printing industry in the past decade have forced printing companies to evolve into more of a service provider role instead of a more transaction-based role.
Wendt and Mierow plan to make a large investment in Web-based technology, specifically an Internet order entry service. The investment will ensure that Heritage has the infrastructure to support more customers efficiently, Wendt said.
“In the industry, we see printers strive to differentiate themselves and add more value to their clients,” Wendt said. “This allows us to stay focused and add energy and growth at a faster rate than we have experienced in the past.”
Heritage currently has Internet order entry technology, but will be working with Lightburn Designs LLC, a Milwaukee-based IT firm to develop a more robust system. Heritage does not plan to introduce online products, Wendt said.
“We are excited about the opportunity, the employees have been informed and are excited about the opportunity and to see some new leadership going forward,” Wendt said.
