CCL Industries Acquires Nortec International

ORONTO, ON, CANADA | CCL Industries, a supplier of specialty label, security, and packaging solutions for global corporations, government institutions, small businesses, and consumers, announces a binding agreement to acquire privately held Nortec International Ltd. based near Tel Aviv, Israel, for approximately $9 million in cash and assumed debt.

Nortec is a specialty manufacturer of high-performance labels and marking systems for the Israeli high-technology sector and also exports its products around the world. Sales in 2017 were $9.6 million with an estimated, adjusted EBITDA of approximately $1.4 million. The business will change its trading name to CCL Design Israel on closing, which is expected during the second quarter of 2018.

CCL president and CEO Geoffrey T. Martin says, “Israel is an important country for the electronics industry, and our CCL Design team has known Nortec for some time, so we are pleased to welcome its founder Doron Lavi and his people to the company.”

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