Acme United acquired Pac-Kit Safety Equipment Company for $3.4 million, a transaction completed in March 2011, structured as all cash. The deal was a Asset purchase.
Pac-Kit Safety Equipment Company operates in First aid & safety, is based in Norwalk, Connecticut, had revenue of about approximately $5.4 million (2010). Acme United acquired the accounts receivable, inventory, equipment, brands and historical records of Pac-Kit Safety Equipment Company, a manufacturer of first aid kits for the industrial, safety, transportation and marine markets. Founded in 1890, Pac-Kit produced unitized ANSI kits from a 40,000-square-foot FDA facility in Norwalk, CT and employed 33 people. Its 2010 revenues were about $5.4 million.
Extend the PhysiciansCare first aid line and broaden Acme's first aid customer base and product range.
Established 1890 brand with FDA facility and unitized ANSI kit capability Combined purchasing and operations PhysiciansCare / first aid line
We are very excited about the purchase of Pac-Kit. It is an extension of our PhysiciansCare line of first aid kits and refills, and it broadens both our customer base and product range. We believe we can leverage our combined purchasing and operations, and generate superior performance and value for our customers.Walter C. Johnsen, Chairman and CEO, Acme United
Advisory firms were not disclosed for this transaction.