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CCL Industries Announces Bolt-on Acquisition for CCL Label

Clinical Systems, Inc (CSI) is a specialized provider to the US clinical trials industry.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

CCL Industries Inc. announced it has acquired Clinical Systems, Inc (CSI), a specialized provider to the US clinical trials industry.

CSI, based in Garden City, NY, 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 12 months ending Dec. 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.

“This transaction significantly expands our capabilities in the clinical trials space providing new software and opportunities to expand internationally,” said Geoffrey T. Martin, president and CEO of CCL Industries.

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