- Matthews International Corporation (NASDAQ:MATW) acquired Equator, Ltd. for £33M ($41M) on a cash-free, debt-free basis. The transaction closed today and other terms of the acquisition were not disclosed.
- Equator will join the SGK Brand Solutions segment of Matthews.
- David A. Schawk, Group President, SGK Brand Solutions, stated, “Equator is an important strategic acquisition for SGK. Its operating and service model aligns with SGK's future growth strategy – a strategy specifically built on the insights and needs of our clients, greatly contributing to the SGK service portfolio. Together, we believe we can extend the Equator brand to support our clients by providing a one-of-a-kind global offering and managing volume-based brand implementation."
- Equator reported sales of approximately £21M ($26 M) in calendar 2016 and has ~255 employees.
- Press Release