GWI is headquartered in Horsholm, Denmark, with manufacturing operations in Nowogard, Poland, and Tyler, TX. The enterprise value of the transaction, net of cash and debt, is approximately $36 million. Sales for the 12 months ending June 30, 2020, are approximately $42 million, with an estimated adjusted EBITDA of $6 million.
GWI will be integrated into CCL’s Healthcare & Specialty business and will immediately adopt their trading identity.
“In late 2015, CCL made a successful greenfield investment in short-run, digitally printed cartons at our Montreal plant in Canada, exclusively targeted at pharmaceutical customers. GWI shares our philosophy of digitizing workflows and manufacturing technologies with complete focus on the unique needs of customers in this sector,” said Geoffrey Martin, president and CEO of CCL Industries Inc. “We welcome Jesper Holm, GWI’s founder, and his team as together we look to take this exciting new concept to healthcare customers globally alongside our highly complementary label products.”
Closing of this transaction is subject to regulatory approvals and expected to close early in the fourth quarter 2020.