Taylor may be good for Dayton

Standard Register Co., the century-old marketing and printing company with a rich history in Dayton, was sold last week in federal bankruptcy court pending a legal resolution with a committee of creditors.

Some printing insiders tell us that the acquisition of Standard Register by Taylor Corp., the Minnesota-based company first started by billionaire and NBA team owner Glen Taylor, is good news for the Dayton business.

Taylor Corp., with an estimated $1.3 billion in annual sales and 9,000 employees, has been steadily increasing market share through mergers and acquisitions over the past several years, business reporter Dave Larsen reported.

While Standard Register is one of the largest companies Taylor Corp. has acquired, in most recent cases the Minnesota company has kept its new acquisitions in the cities they operate in.

On Wednesday, Taylor Corp. announced it had bought the assets of NEPS LLC, a print production and document management company, and would keep its headquarters in Salem, N.H.

The next six months will leave the more than 800 Standard Register employees based in Dayton anxious about their future, but a statement from the company may provide some reassurance.

“We welcome Standard Register to our family of companies,” said Deb Taylor, chief executive officer of Taylor Corp. “Standard Register’s culture of meeting and anticipating their customers’ needs aligns perfectly with ours.

“We are very pleased to bring aboard thousands of employees whose talents will play a significant role in the success of our company. Together, we’ll have the scale and talent we need to pursue new market opportunities through a broader range of technology offerings, products, and services.”

That doesn’t mean the company won’t shed duplicate administrative and management duties at Standard Register.

The company’s top leader already announced his resignation. Joe Morgan, president and CEO of Standard Register since 2009, announced Friday he was leaving to pursue a leadership post at another company. Kevin Carmody, who was hired in February by Standard Register to help with restructuring efforts, has been named interim CEO.

A fresh start in leadership may help Standard Register.

Some blame Morgan for the financial demise of the troubled company. He was at the helm when the company purchased crosstown-competitor WorkFlow One in 2013 that saddled the company with $210 million in debt and eventually led to Standard Regis-

ter’s bankruptcy filing in March.

Dayton Development Coalition and city officials told us they have reached out to Taylor Corp. to encourage the company to keep Standard Register in Dayton. When NCR left the city in 2009, the departure had a huge economic impact on the Dayton economy that is still felt today.

This city does not need a another setback like this at a time when it is showing signs of an economic comeback.