Zephyr is a leading label converter focused on customers in the electronics industry. Sales in calendar 2015 were approximately $36 million with an adjusted EBITDA estimated at $6 million. Purchase price consideration net of cash acquired, subject to customary completion adjustments, is estimated at $39 million and includes a large, owned manufacturing facility in Singapore.
Geoffrey T. Martin, president/ CEO of CCL, says, "We are delighted to welcome CS Ko and his deeply experienced people to CCL. Zephyr will immediately change its trading identity to CCL Design and continue to focus on the electronics industry in South East Asia. The new business reports locally to Jim Anzai, Vice President and Managing Director, CCL Asia, and forms an integral part of the global CCL Design initiative. These new geographies for CCL are important for the development of our overall business in Asia complementing our strong presence in the electronics industry in China following the acquisition of Worldmark in 2015."