M&As: CCL buys apparel label firm; Pexco buys traffic marker maker

Speciality label, security and packaging solutions provider CCL Industries Inc. has acquired privately owned Ibertex Etiquetaje Industrial S.L.U. and Eti-Textil Maroc S.a.r.l. AU (Eti-Textil). The enterprise value, net of cash and debt, is approximately US$19.6 million, subject to customary closing adjustments. Eti-Textil is an apparel label producer headquartered in Elche, Spain, with additional manufacturing in Tangier, Morocco. 

Sales for 2019 were an estimated US$7.7 million with an adjusted EBITDA of US$3.5 million. The acquisition will integrate into the Apparel Labeling Systems (ALS) business of Checkpoint using its trading identity with immediate effect.

Geoffrey T. Martin, President/CEO of CCL Industries Inc., commented, “Eti-Textil offers our combined customers a full range of labelling products and services, including RFID, while adding to our ALS operational footprint in the important geographies of Iberia and North Africa. Eti-Textil’s management will also be a strong and highly experienced addition to the ALS global leadership team.”

In other news, North American plastics extruder Pexco LLC has acquired NDM Marking Systems, based in Jasper, Georgia. Founded in 2015, NDM, a maker of traffic markers, produces a variety of delineator posts used by transportation authorities, utility companies and contractors among others.

 Pexco CEO Sam Patel stated, “We are very excited about the NDM acquisition, as it will open new opportunities for Pexco’s Traffic Division. The NDM acquisition made perfect sense, as it filled a gap in our product offering.”

Since 2009, Pexco has executed on multiple acquisitions as it has grown into the largest custom industrial extrusion company in North America.

Pexco was acquired in 2018 by AEA Investors, the global private equity group. The purchase of NDM represents Pexco’s sixth acquisition under its new ownership. Patel stated that “We remain firmly committed to the ongoing search for acquisitions that fit our core objectives and expand our suite of capabilities as the largest custom plastics solutions provider in North America.”

(PRA)

Subscribe to Get the Latest Updates from PRA  Please click here