Jostens history

The company remained small and relatively inconspicuous until Daniel C. Gainey, a former teacher and football coach, was hired in 1922 as the first full-time Jostens ring salesman.

By 1923 Gainey had enlisted four more sales representatives—all part-time—and revenues quickly rose to $70,000.

In 1930 the watch-making and repair business was sold and the capital used to construct the company’s first ring manufacturing plant.

In 1958 the company made its first acquisition, purchasing the Ohio-based Educational Supply Company, a manufacturer of school diplomas.

Sales for 1962 totaled $26 million; three years later the company obtained its listing on the New York Stock Exchange.

Three years later, with sales approaching the $500,000 mark, Gainey was elected chairman and CEO, positions he held until his retirement in 1968.

Gainey’s retirement, however, coupled with Jostens’ relocation to Minneapolis in 1969, triggered a tumultuous period that nearly shipwrecked the then nearly $100-million-dollar company.

Robert P. Jensen, a director since 1980, succeeded him as chairman.

Beginning in 1983, he acquired San Gabriel Colleges of California and Metridata Education Systems of Kentucky.

In 1986 the company acquired Illinois-based Prescription Learning Corporation (PLC). A developer of customized computer hardware, software, and support services for the educational market, PLC was merged with Education Systems Corporation three years later to form JLC.

The company sold the schools to CareerCom Corp. in 1987 for a sizable profit.

JLC, operating in a marketplace that experts estimate is only 15 percent tapped, appears poised for fast-paced growth, especially considering its August 1992 purchase of Wicat Systems and its arrangement with Texas-based Dell Computer to market a Jostens line of 386 and 486 systems.

Lurton announced his retirement as chairman of the board and CEO in October 1993.

Jostens sold JLC to a group led by Boston-based investment firm Bain Capital, Inc. in June 1995 for $90 million in cash and notes.

Buhrmaster continued to fine-tune Jostens in 1997.

Additional plant consolidation and infrastructure improvements that continued into 1998 delayed the implementation of any major expansion plans.