PaperlinX Expands into Sweden
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PaperlinX Limited, Australia, this week reported that its Danish operations, PaperlinX CC&Co, has acquired Cadorit AB, Sweden, for A$1.1 million. Cadorit is based in Borås (southwest Sweden) and specializes in digital solutions for the sign and print industry. It has annual revenues of approximately A$3.2 million. The purchase price represents an EBIT multiple (pre-synergies) of approximately five times the 2012 earnings of the acquired business.
PaperlinX CEO Dave Allen noted that "the acquisition of Cadorit is consistent with the group strategy of expanding our revenue streams beyond our traditional commercial print offering via organic growth and/or complementary bolt-on acquisitions. We are extremely excited about the opportunity that this acquisition brings to PaperlinX as it will provide a platform to becoming a leading supplier of visual technology and packaging solutions in this region."
The acquisition was completed on June 1 and was funded out of the local credit facilities of PaperlinX CC.
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