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Local graphics firm Pratt acquired by Minnesota company

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Pratt Corp., a 66-year-old Indianapolis-based retail graphics firm that saw ambitious expansion plans come up short during the recession, has been acquired by Vomela Group of St. Paul, Minn.

Terms of the deal, announced Monday, were not disclosed. Vomela said the new unit will be renamed Pratt Visual Solutions.

Pratt was founded in 1946 under the name Pratt Poster Co. by Ryland Pratt as an outdoor advertising company and developed a specialty as a national store-decor business. In 1982, it began creating signage for one of its biggest clients, Mooresville, N.C.-based Lowe’s Cos. Inc. Other clients included HHGregg, Shoe Carnival Inc. and FedEx.

In 2005, the company consolidated operations into 400,000 square feet of space along Shadeland Avenue and promised to create 141 full-time jobs paying an average of $21 per hour and retain 177 existing employees.

The company fell below its hiring targets in 2008, and the city last year overturned its property-tax breaks. At the time, Pratt had 175 local employees. The company said Tuesday that it now has 143 workers.

CEO Dan Pratt told IBJ in August that he had been focused on stabilizing and rebuilding the company instead of growing it, due to the effects of the economy. Dan Pratt will stay with Pratt Visual Solutions as president.

Vomela has 900 employees across 18 locations in the United States and Canada. The 65-year-old graphics firm expects revenue this year to hit $200 million.

 

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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