CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced that it has acquired Clinical Systems, Inc (“CSI”), a specialized provider to the United States clinical trials industry.

CSI, based in Garden City, New York produces labels, including specialized patient information booklets and has developed a new software driven “eLabel” solution for clinical trials providers. The enterprise value of the transaction, net of cash and debt, is approximately $19.4 million. Sales for the twelve months ending December 31, 2019, are approximately $14.4 million with an estimated adjusted EBITDA of $3.5 million. CSI will be integrated into CCL Label’s Healthcare & Specialty operations and immediately begin trading as CCL Clinical Systems.

Geoffrey T. Martin, President and Chief Executive Officer, of CCL Industries Inc., commented, “This transaction significantly expands our capabilities in the clinical trials space providing new software and opportunities to expand internationally.”