ACU Acme United Corp

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of report (date of earliest event reported): February 3, 2016

ACME UNITED CORPORATION

(Exact name of registrant as specified in its charter)

__________________

Connecticut	001-07698	06-0236700
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification No.)
55 Walls Drive, Fairfield, Connecticut		06824
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (203) 254-6060

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

ITEM 1.01. REGISTRANT’S BUSINESS AND OPERATIONS.

On February 1, 2016, Acme United Corporation issued a press release announcing that it has acquired the assets of Vogel Capital, Inc., d/b/a Diamond Machining Technology (“DMT”) for $7.0 million in cash. Based in Marlborough, MA, DMT is a leader in sharpening tools for knives, scissors, chisels, and other cutting tools. Additional information related to the acquisition and DMT can be found in the Company’s press release dated February 1, 2016. A copy of the press release is attached as Exhibit 99.1 to this current report.

(c)       Exhibits

 

Exhibit Number	Description
99.1	Press release dated February 1, 2016.

 

 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

ACME UNITED CORPORATION
By	/s/  Walter C. Johnsen
	Walter C. Johnsen
	Chairman and
	Chief Executive Officer
Dated: February 3, 2016
By	/s/  Paul G. Driscoll
	Paul G. Driscoll
	Vice President and
	Chief Financial Officer
Dated: February 3, 2016

EXHIBIT INDEX

	Exhibit Number	Description
	99.1	Press release dated February 1, 2016.

 

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Exhibit 99.1

 

ACME UNITED CORPORATION			NEWS RELEASE
CONTACT:	Paul G. Driscoll	Acme United Corporation	55 Walls Drive	Fairfield, CT 06824
		Phone: (203) 254-6060	FAX: (203) 254-6521

 

 

FOR IMMEDIATE RELEASE   February 1, 2016

 

  

ACME UNITED CORPORATION ACQUIRES ASSETS OF DIAMOND MACHINING TECHNOLOGY

Provides World-Class Sharpening Solutions for Professional, Commercial and Individual Users

 

 

FAIRFIELD, CONN. – February 1, 2016 – Acme United Corporation (NYSE MKT:ACU) today announced that it has acquired the assets of Vogel Capital, Inc., d/b/a Diamond Machining Technology (“DMT”) for $7.0 million in cash. DMT had revenues in 2015 of $5.4 million and EBITDA of approximately $1.0 million. The acquisition is expected to be accretive during 2016.

 

Based in Marlborough, MA, DMT is a leader in sharpening tools for knives, scissors, chisels, and other cutting tools. The company, which was founded in 1976 by aerospace engineers, uses finely dispersed diamonds on the surfaces of its sharpeners, and holds over 50 patents and trademarks. Its products are popular with machinists, woodworkers, hunters, fishermen, skiers, chefs, and gardeners who demand the finest quality sharpening.

 

Walter C. Johnsen, Chairman and CEO, said, “We are delighted to welcome DMT’s employees into our corporate family. DMT complements Acme United’s existing brands and products within the industrial, hardware, floral, food preparation and sporting goods markets. We intend to keep the DMT operation in Massachusetts, and expect to expand the business and distribution through Acme United’s broad customer base, innovation, and global reach.”

Acme United is the largest worldwide supplier of scissors, and has strong market presence in high quality knives, fishing tools, and industrial cutting products sold under the Westcott, Clauss®, Camillus® and Cuda® brands.

 

Further information on DMT is available at its website, www.dmtsharp.com.

 

ACME UNITED CORPORATION is an innovative supplier of cutting devices, measuring instruments, and safety products for school, home, office, hardware and industrial use. Its leading brands include Westcott®, Clauss®, Camillus®, CUDA®, PhysiciansCare ®,Pac-Kit ® and First Aid Only®. For more information, visit www.acmeunited.com

 

Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the following: (i) changes in the Company’s plans, strategies, objectives, expectations and intentions, which may be made at any time at the discretion of the Company; (ii) the impact of uncertainties in global economic conditions, including the impact on the Company’s suppliers and customers (iii) changes in client needs and consumer spending habits; (iv) the impact of competition and technological changes on the company (v) the Company’s ability to manage its growth effectively, including its ability to successfully integrate any business it might acquire; (vi) currency fluctuations; and (vii) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

 

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