Acme United acquired Spill Magic, Inc. for $7.2 million, a transaction completed in February 2017, structured as all cash. The deal was a Asset purchase.
Spill Magic, Inc. operates in Safety / absorbents, is based in Santa Ana, California and Smyrna, Tennessee, had revenue of about $6.3 million (2016), ~$1.4 million EBITDA. Acme United acquired the assets of Spill Magic, Inc., a leader in absorbents that encapsulate spills into dry powders that can be safely disposed. Large retail chains use its products to remove liquids from broken glass, oil and gas spills, bodily fluids and solvents, and it also sells spill clean-up and blood-borne-pathogen kits. Based in Santa Ana, CA and Smyrna, TN, Spill Magic began operating in 1995, employed 22 people, and had 2016 revenues of $6.3 million with about $1.4 million of EBITDA.
Complement Acme's office, industrial, retail, food-service and safety product lines.
Category leader in encapsulating spill absorbents used by major retail chains Cross-sell into safety and industrial channels Safety segment (locations retained)
Spill Magic complements Acme United's existing products within the office, industrial, retail, food service, and safety markets. We intend to keep the Spill Magic operations at their current locations.Walter C. Johnsen, Chairman and CEO, Acme United
Advisory firms were not disclosed for this transaction.