Specialty label, security and packaging solutions provider CCL Industries has agreed to buy Super Enterprises Printing (Malaysia) (SEP).
Both the companies have signed a binding agreement for the transaction.
Based in Kuala Lumpur, SEP supplies decorative panels, liquid crystal and touch screen display covers, and in-mould decorated components.
These items are used in sectors such as consumer electronics and automotive sectors in the Asian markets.
The company recorded sales of $26.4m, with adjusted EBITDA estimated at $3.0m for the trailing twelve months that ended on 30 September 2020.
CCL Industries president and chief executive officer Geoffrey Martin said: “We are pleased to expand our highly successful CCL Design operations in Asia, adding in-mould decorating and technical screen-printing technologies, as well as strong sales and project engineering resources throughout the region.
“Our key people have known SEP for some time and welcome all their employees to CCL.”
The deal, which is valued at approximately $20.0m, includes two buildings that conduct operations in Kuala Lumpur.
According to CCL, SEP has a second manufacturing operation in Guangzhou, China.
The takeover is expected to close before the end of the year. Following the acquisition, the new business will trade as CCL Design.
Operating 183 production facilities across 42 countries, CCL Industries is a converter of pressure sensitive and specialty extruded film materials.
Earlier this month, CCL Industries revealed its plan for a strategic new capacity investment at its Innovia Films unit for the installation of a new 6m co-extrusion line at one of its continental European facilities.