CCL, the world’s largest label company, has acquired privately owned Worldmark Ltd., a supplier of functional labels manufactured from proprietary pressure sensitive materials for designers and brand owners in the technology sector.

The new business becomes a market focused unit of CCL Design and changed its trading identity at the end of 2015. The acquired operation, headquartered in Scotland, has 1,900 employees distributed across six manufacturing plants in China, one each in Mexico and Hungary plus sales offices and prototyping design centers in Silicon Valley (California, USA), Taiwan and other strategically important locations close to brand owner customers around the world. The acquired business has clean room manufacturing capabilities in coating and converting, designing products from materials science through to final form and function in conjunction with its global customers. Its 2015 sales are forecast at approximately $210 million, entirely focused on customers in the technology sector: smart phones, personal computers & tablets, servers, routers and new concept developments. Worldmark’s 2015 EBITDA, forecast at approximately $35 million, is expected to rise to $40 million in 2016 with planned business growth and synergies. The purchase price consideration net of cash acquired but including debt assumed is approximately $252 million.

Geoffrey T. Martin, president and CEO of CCL, comments, “We have admired Worldmark for many years as they built a unique, leading global position in the technology sector and are very excited to welcome their management team and employees to CCL where they will continue to focus on this fast moving industry. Two thirds of the revenue base is derived in Asia, significantly expanding our presence in this important part of the world. Developing proprietary materials specifically designed for challenging end use applications has become an important operating model for the company; this acquisition brings these capabilities to CCL Design.”