TORONTO, Feb. 18, 2020 (GLOBE NEWSWIRE) 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 Clinical Systems, Inc (“CSI”), a specialized provider to the United States clinical trials industry. 

CSI, based in Garden City, New York produces labels, including specialized patient information booklets and has developed a new software driven “eLabel” solution for clinical trials providers. The enterprise value of the transaction, net of cash and debt, is approximately $19.4 million. Sales for the twelve months ending December 31, 2019, are approximately $14.4 million with an estimated adjusted EBITDA of $3.5 million. CSI will be integrated into CCL Label’s Healthcare & Specialty operations and immediately begin trading as CCL Clinical Systems.

Geoffrey T. Martin, President and Chief Executive Officer, of CCL Industries Inc., commented, “This transaction significantly expands our capabilities in the clinical trials space providing new software and opportunities to expand internationally.”

CCL Industries Inc. employs approximately 21,000 people operating 170 production facilities in 40 countries with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL is the world’s largest converter of pressure sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, healthcare & chemicals, consumer electronic device and automotive markets. Extruded & laminated plastic tubes, aluminum aerosols & specialty bottles, folded instructional leaflets, precision decorated & die cut components, electronic displays, polymer banknote substrate and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world’s largest supplier of labels, specialty converted media and software solutions for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass market stores and e-commerce retailers. Checkpoint is a leading developer of RF and RFID based technology systems for loss prevention and inventory management applications, including labeling and tagging solutions, for the retail and apparel industries worldwide. Innovia is a leading global producer of specialty, high performance, multi-layer, surface engineered films for label, packaging and security applications. The Company is partly backward integrated into materials science with capabilities in polymer extrusion, adhesive development, coating & lamination, surface engineering and metallurgy; deployed as needed across the four business segments.