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    Breaking News

    CCL Industries Announces Three Bolt-on Transactions

    Acquires two label converters and a specialist technology company that produces high bond pressure sensitive tapes.

    CCL Industries Announces Three Bolt-on Transactions
    11.16.18
    CCL Industries Inc. announced that it has reached binding agreements to acquire two privately held label converters and a specialist technology company producing high bond pressure sensitive tapes. 
     
    The company agreed to acquire the assets of Unilogo, based near Warsaw, Poland, a supplier of digitally printed, pressure sensitive and sleeve labels for consumer products customers. Forecast 2018 sales are approximately $7.4 million with estimated, adjusted EBITDA of $2.5 million. 
     
    The agreed purchase consideration in cash and acquired lease obligations is $10.7 million, subject to customary closing adjustments. 
     
    The transaction is expected to close in late December 2018. 
     
    The company also agreed to acquire Hinsitsu Screen (Vietnam) Company Limited, based in Hanoi, with a second manufacturing operation in Ho Chi Minh City. 
     
    Hinsitsu is a supplier of durable & tamper evident labels and graphic overlays for the electronics industry in Vietnam. For the trailing 12 months ended June 30, 2018, sales were $11.2 million with adjusted EBITDA of approximately $2.0 million. 
     
    The agreed purchase consideration, net of cash acquired, is $12.4 million subject to customary adjustments with closing planned for early January 2019. 
     
    In addition, the Company agreed to acquire Olympic Holding B.V. and its related subsidiaries based in Venray in the Netherlands. 
     
    Olympic is a privately held, start-up technology company with a proprietary, patented process to produce high bond, acrylic foam tapes without the use of solvents for applications in the automotive, electronics and construction industries. 
     
    The agreed purchase consideration in cash and assumed debt is $13.5 million with closing planned for early January 2019 and subject to customary adjustments. 
     
    “We are pleased to expand our existing, successful operations in Poland with the addition of Unilogo, which specializes in digital technologies," said Geoffrey T. Martin, president & CEO of CCL. "Hinsitsu brings CCL Design to a strategically important country for global electronics customers, while Olympic adds an important capability for high-performance adhesive systems. By 2021, we expect Olympic to generate at least $5 million EBITDA through a combination of internal sales to CCL Design and external wins in the broad market."
     
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