Labels specialist Avery continues to expand in the hospitality and events identification segment.
Parent company CCL Industries has confirmed the latest bolt-on acquisition for its subsidiary: UK-based Oomph Made. The company – based near Guildford – is a supplier of RFID and NFC smart cards and wristbands used for hotels, conferences and festivals, etc.
Oomph – which was incorporated in 2000 – has a strong sustainability message. All its smart cards are made with 60% recycled plastic and it also offers products made from ‘pulper’, a paper-based material that is both recyclable and biodegradable.
In 2022, Oomph generated sales of approximately £4 million, with an adjusted EBITDA margin of 18%. CCL is paying around £4.2 million in cash for Oomph on a debt-free basis, which represents a purchase-price multiple of just under six times adjusted EBITDA.
CCL CEO Geoff Martin stated: “This acquisition continues to build on Avery’s rapidly growing portfolio of access control, badging and credentials technologies, products and brands focused on the retail, hospitality, live events and conferencing markets.”