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Client and project overview
As part of the commercial due diligence (CDD) process, AMR (acquired by Stax in 2022) assessed the logic and attractiveness of a merger between Bendon (owned by Wicks, a New York-based private equity fund specializing in information, education and media) and Dalmatian Press.
CDD key questions
- Will coloring and activity (C&A) be an attractive market in the next 3 to 5 years?
- Do Bendon and Dalmatian have sustainable competitive advantages?
- What are the prospects for the combined businesses?

Highlights of methodology
- Analysed the C&A sector to identify core product categories
- Researched the main sources of revenues from Bendon and Dalmation
- Defined the channels of distribution to identify which produced the best performance
Results
By conducting CDD, we were able to:
- Identify not just where the value lies in the core market, but also in the key segments.
- Asses the drivers of growth potential
- Research segmented customer behavior and assess customer satisfaction levels
- provide critical analysis of the potential competitive advantages and market share gain that would result from the merger. We also supported the investment and integration plan