Acme United Corporation Acquires Assets of Spill Magic, Inc.
February 01 2017 - 4:33PM
Business Wire
Provides World-Class Fluid-Absorbent Solutions
for Safety
Acme United Corporation (NYSE MKT:ACU) today announced that it
has acquired the assets of Spill Magic, Inc. for $7.2 million in
cash. Spill Magic had revenues in 2016 of $6.3 million and EBITDA
of approximately $1.4 million. The acquisition is expected to be
accretive during 2017.
Spill Magic is a leader in absorbents that encapsulate spills
into dry powders that can be safely disposed. Many large retail
chains use its products to remove liquids from broken glass
containers, oil and gas spills, bodily fluids, and solvents. Its
easy-to-use and environmentally friendly products permanently
absorb the spills, leaving the floors underneath dry and reducing
injuries from falls. Spill Magic also sells spill clean-up kits and
blood borne pathogen kits for the safety market.
Spill Magic is located in Santa Ana, California and Smyrna,
Tennessee, and began operations in 1995. The company employs 22
people.
Walter C. Johnsen, Chairman and CEO of Acme United, said, “Spill
Magic complements Acme United’s existing products within the
office, industrial, retail, food service, and safety markets. We
intend to keep the Spill Magic operations at their current
locations while expanding the business and distribution through
Acme United’s broad customer base, innovation, and global
reach.”
Further information on Spill Magic is available at its website,
www.spillmagic.com.
ACME UNITED CORPORATION is an innovative supplier of
cutting devices and safety products for school, home, office,
hardware and industrial use. Its leading brands include Westcott®,
Clauss®, Camillus®, CUDA®, PhysiciansCare®,Pac-Kit®, DMT, 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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version on businesswire.com: http://www.businesswire.com/news/home/20170201006325/en/
Acme United CorporationPaul G. Driscoll, 203-254-6060FAX:
203-254-6521
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