04.03.13
CCL Industries Inc. announced it has acquired INT Autotechnik GmbH, a leading producer of stainless steel and aluminum tread plates for German automotive OEMs. INT, based in Munich, recorded sales of $22 million and an adjusted EBITDA of approximately $2 million in 2012. The expected final purchase price, subject to customary closing adjustments, is estimated at $14 million in a combination of cash and assumed debt.
"INT represents another interesting acquisition in the rapidly developing Durables sector of CCL Label,”â€Geoffrey Martin, president and CEO of CCL Industries, said. “Together with our existing business in Germany, CCL Design, we now supply all the leading automotive customers with decorative and functional products, with a particularly strong share position in luxury cars. INT recently secured important new sales contracts, which will expand their revenue base; with additional operational synergies we are planning to double the acquired profit stream over the 2013-2015 period. We are pleased to welcome Mr. Alfred Held, the founder of INT, to CCL where he will play a leading role in the development of our German automotive business. Over the balance of 2013, we will combine the two operations into a single legal entity retaining manufacturing plants in Solingen and Munich, which will both trade as CCL Design."
"INT represents another interesting acquisition in the rapidly developing Durables sector of CCL Label,”â€Geoffrey Martin, president and CEO of CCL Industries, said. “Together with our existing business in Germany, CCL Design, we now supply all the leading automotive customers with decorative and functional products, with a particularly strong share position in luxury cars. INT recently secured important new sales contracts, which will expand their revenue base; with additional operational synergies we are planning to double the acquired profit stream over the 2013-2015 period. We are pleased to welcome Mr. Alfred Held, the founder of INT, to CCL where he will play a leading role in the development of our German automotive business. Over the balance of 2013, we will combine the two operations into a single legal entity retaining manufacturing plants in Solingen and Munich, which will both trade as CCL Design."