Key Takeaways
• Acquisition Announcement: CTP Solutions, a provider of print products, has been acquired by Smart Source Critical Communications LLC, a subsidiary of Smart Source LLC (asi/328914), to strengthen its position in the critical communications and accounts receivable management sectors.
• Strategic Alignment: Both companies emphasized their shared values and complementary capabilities.
• Continued Operations: CTP Solutions will for now operate under the name “CTP Solutions, a Smart Source Company,” with no long-term branding changes disclosed yet.
CTP Solutions, an Agoura Hills, CA-headquartered provider of print products like labels, forms and direct mail, announced yesterday that it has been acquired by Smart Source LLC (asi/328914) subsidiary Smart Source Critical Communications LLC.
“We are delighted to announce this acquisition as an expansion of our business in the critical communications market, specifically the [accounts receivable] management sector,” Smart Source CEO Tom D’Agostino said in a statement. “CTP has been a great and well-respected company for many years and maintains a dominant position in the online traditional print mail industry. Like Smart Source, CTP has a long and rich history of managing their clients’ print spend on an enterprise level, delivering year-on-year value and brand control.”
Smart Source LLC placed fourth in Print & Promo Marketing’s 2024 Top Print Distributors list, posting 2023 print sales of $88,601,040.
“CTP Solutions is very excited to be acquired by the leader in our industry, Smart Source,” CTP Owner and CEO Jack Schachtel said in a statement. “After 35 years of growth and success, joining Smart Source is a perfect next step for our customers and employees. Smart Source has the right formula that matches CTP Solutions objectives today and for the future.”
Todd Norton and Scott Thenell, co-presidents of Smart Source Critical Communications, shared that the acquisition of CTP “enhances our ability to deliver completely customizable solutions for our clients’ data delivery needs.”
In a LinkedIn post, Schachtel highlighted how CTP’s capabilities in tax forms, checks, statements and other sensitive print materials; electronic bill presentment and workflow operations; and sourcing, warehousing and fulfillment will be enhanced under Smart Source.
CTP Solutions will operate as “CTP Solutions, a Smart Source Company” for the short term. No longer-term branding plans were disclosed.
