TPM has sold ColorLab through a management-led acquisition, with longtime ColorLab Vice President Dustin Batson acquiring ownership of the company and continuing to lead the business alongside its existing team.
Batson is being backed by Cowart Awards, a longtime Greenville business, neighbor and partner of TPM. Financial terms of the transaction were not disclosed.
The transaction is part of TPM’s broader long-term strategy and is expected to allow the company to increase its focus and investment in software, digital solutions and emerging technologies.
Those initiatives include TrebleHook and TPM’s AI-based solutions, while ColorLab will operate independently under the leadership team that helped build the business.
For ColorLab customers, TPM said the transition is designed to be seamless. The company’s existing team, services and production capabilities will remain in place, with current projects, billing processes and day-to-day operations continuing without interruption.
As an independent company, ColorLab plans to continue investing in its employees while expanding its creative and production capabilities and developing additional ways to help customers bring brands and physical spaces to life.
ColorLab provides branded environments, signage, fleet graphics and brand design services. Based in Greenville, South Carolina, the company combines design and production capabilities to manage projects from initial concept through installation.
The company is also preparing to move into a new facility at 910 Laurens Road in Greenville, South Carolina, at the end of September. The location is directly across the street from ColorLab’s current facility.
KEY QUOTES:
“ColorLab has become an exceptional business because of the people behind it. Dustin has been instrumental in building the company into what it is today, and we have complete confidence in his leadership. This transition positions ColorLab for continued growth while allowing TPM to remain focused on our long-term strategic vision. We’re proud of what we’ve built together and excited to see them flourish.”
Chris Fay, President of TPM
“This is an exciting milestone for our team and our customers. While our ownership structure is changing, everything our customers value about ColorLab remains the same. We’ll continue delivering the service and creativity our customers expect while investing in the future of ColorLab.”
Dustin Batson, Part-Owner of ColorLab
