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Its easy to be amazed at how much Bob Lothenbach has elevated himself after starting out with so little. But truth be known, regardless of how incredible the climb to stardom has been for the president and owner of Imagine! Print Solutions-from a garagebuilt concept that started with $ 1,800 and borrowed equipment to one of the nations largest printers-it's jaw-dropping to think that the best may be yet to come.
Sure, Lothenbach was practically Hat broke when he walked oft from his job in 1988. Making matters worse, he'd been relying exclusively on a company car. Less than 30 years later, the 2013 Printing Impressions/RIT Printing Industry Hall of Fame inductee has carved out a $303 million, privately held empire based in Minneapolis, with two locations in Minnesota and two in North Carolina.
While the journey has been full of ups and downs, one wonders if Lothenbach's blueprint could be replicated in 2016. "No clue... I sure as hell wouldn't want to do it again," he admits. "It's hard to say. Could somebody do it? Sure. Will someone probably do it? Yes."
Suffice to say, Lothenbach is doing the driving these days, and all roads are pointing to growth. Recent history would agree; Imagine! Print Solutions (formerly Challenge Printing) acquired Minneapolis-based DigiGraphics in 2012 and Classic Graphics of Charlotte, North Carolina, a year later. DigiGraphics was rechristened Imagine! Express and moved into a new 80,000-square-foot facility to accommodate increased equipment.
"This was our first acquisition and they were a relatively small company we wanted to learn with," Lothenbach says of the former DigiGraphics. "Our philosophy was to be respectful of what they brought to the table, encourage cross-selling between all the reps and provide resources for them to increase sales in the local market.
"In the case of Classic Graphics, we also took a relatively handsoff approach to allow them to thrive within our organization. Classic Graphics...