TORONTO, ON / ACCESSWIRE / January 7, 2022 / CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has acquired privately owned McGavigan Holdings Ltd. ("McGavigan"), a leading supplier of ‘in mould' decorated components for automotive interiors.
McGavigan supports its global automotive customer base from a long established manufacturing plant in the U.K. and a recently completed, wholly owned greenfield facility in China, where a significant majority of its operations are based. Capabilities include state-of-the-art clean rooms with technical screen printing, high precision forming, injection moulding and automation technologies.
For the calendar year 2021, consolidated sales and adjusted EBITDA are estimated to be $55.7 million and $14.6 million, respectively. The purchase price consideration, net of cash acquired and debt assumed, is approximately $105.5 million.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, "We have known McGavigan and its key people for many years, and are very pleased to welcome the team to CCL where they will continue to focus on innovative specialty product designs for automotive interiors. This acquisition significantly expands our presence in the automotive sector in China and brings important new product and technology platforms to our CCL Design global network, headed by Derek Cumming, Group Vice President."