Global packaging and label company CCL Industries Inc. has announced the acquisition of pc/nametag Inc. (asi/292210) and Meetings Direct, LLC (asi/70429). The two companies, based in Verona, WI, and both founded by Nick Topitzes, were acquired for approximately $37 million. The combined entities did $36 million in 2014 sales with an adjusted EBITDA of approximately $6.3 million.
The two companies specialize in name badges and meeting supplies. Meetings Direct caters to the ad specialty industry while pc/nametag sells to meeting planners. CCL said the two companies will be incorporated into CCL’s Avery segment, which offers digital printing solutions such printed labels, tags, dividers, badges and specialty card products to small businesses and consumers. Both pc/nametag and Meetings Direct will continue to operate as normal and will retain their names. The acquisition includes the office and manufacturing/distribution facility the companies currently occupy.
“Nick Topitzes built a great business creating and developing many of the products used by the meeting planner industry,” said Geoffrey T. Martin, president & CEO of CCL Industries. “Their portfolio of customized and stock printed name badges and holders, badge ribbons, lanyards and wristbands combined with template software solutions make them a leader in this market. We are very pleased Nick chose us as a legacy home for the business that he founded and welcome both him and his management team.”
CCL, which is based in Toronto with U.S. headquarters in Boston, acquired Avery, the former office and consumer products division of Avery Dennison, in July 2013 for $500 million. In that deal, CCL also acquired Avery Dennison’s Designed and Engineered Solutions business, which was incorporated into its label segment.