Acme United Corporation Acquires the Assets of Elite First Aid
Acme United (ACU) has acquired the assets of Elite First Aid, a supplier of tactical, trauma, and emergency response products with 2023 revenues of $4.2 million. The undisclosed purchase price is expected to be accretive. Located in Wake Forest, NC, Elite First Aid will join Acme United's portfolio, expanding its emergency response product sales to domestic and global markets. The founder and management team of Elite First Aid will join Acme United, alongside its employees.
- Acquisition of Elite First Aid expected to be accretive.
- Elite First Aid had $4.2 million in 2023 revenues.
- Expansion of emergency response product sales to new markets.
- Integration of experienced management and employees from Elite First Aid.
- Purchase price not disclosed, creating uncertainty about the financial impact.
- No immediate data on potential costs or risks associated with the acquisition.
Insights
Acme United's acquisition of Elite First Aid brings an incremental revenue potential of approximately
In the broader context, expanding into tactical and emergency response products could diversify Acme United's product line, reducing reliance on any single sector. This strategic move might also offer synergies, such as leveraging Acme's existing distribution channels to boost Elite First Aid's market reach, thereby potentially enhancing revenue further.
However, the absence of the purchase price leaves some uncertainties regarding the debt or equity used to finance this acquisition. Investors should watch closely for the company's next financial statements to better understand the financial impact and integration progress.
From a market perspective, the acquisition allows Acme United to tap into the growing demand for tactical and emergency response products. This sector has seen increasing relevance due to heightened awareness around disaster preparedness and workplace safety regulations. By acquiring an established player like Elite First Aid, Acme not only gains immediate market share but also reduces the time and costs associated with developing similar capabilities in-house.
This move could also open new customer segments for Acme, particularly in defense, emergency services and healthcare industries. Such diversification could provide a buffer against economic cycles affecting other parts of Acme's business. However, the success of this venture will largely depend on effective integration and maintaining Elite First Aid's existing customer relationships.
SHELTON, Conn., May 23, 2024 (GLOBE NEWSWIRE) -- Acme United Corporation (NYSE American: ACU) today announced that it has acquired the assets of Elite First Aid, Inc., a leading supplier of tactical, trauma and emergency response products.
Elite First Aid had revenues in 2023 of approximately
Walter C. Johnsen, Chairman and CEO, said, “We believe the acquisition of Elite First Aid provides a platform to expand sales of emergency response products to many of Acme United’s domestic and global customers and to open new markets to us.”
Mr. Johnsen added, “We are excited that the founder and management of Elite First Aid are joining Acme United. We also look forward to welcoming all the employees to the Company.”
Further information on Elite First Aid is available at its website www.elitefirstaidinc.com.
ACME UNITED CORPORATION is a leading worldwide supplier of innovative safety solutions and cutting technology to the school, home, office, hardware, sporting goods and industrial markets. Its leading brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Spill Magic®, Westcott®, Clauss®, DMT®, Med-Nap and Safety Made. For more information, visit www.acmeunited.com.
Forward Looking Statements
The Company may from time to time make written or oral “forward-looking statements” including statements contained in this report and in other communications by the Company, which are made in good faith pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on our beliefs as well as assumptions made by and information currently available to us. When used in this document, words like “may,” “might,” “will,” “except,” “anticipate,” “believe,” “potential,” and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from our current expectations.
Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties that may impact the Company’s business, operations and financial results.
These risks and uncertainties include, without limitation, the following: (i) changes in the Company’s plans, strategies, objectives, expectations and intentions, which may be made at any time at the discretion of the Company; (ii) the impact of uncertainties in global economic conditions, including the impact on the Company’s suppliers and customers; (iii) the continuing adverse impact of inflation, including product costs, and interest rates; (iv) potential adverse effects on the Company, its customers, and suppliers resulting from the wars in Ukraine and the Middle East; (v) additional disruptions in the Company’s supply chains, whether caused by pandemics, natural disasters, or otherwise, including trucker shortages, port closures and delays, and delays with container ships themselves; (vi) labor related costs the Company has and may continue to incur, including costs of acquiring and training new employees and rising wages and benefits; (vii) currency fluctuations including, for example, the fluctuation of the dollar against the euro; (viii) the Company’s ability to effectively manage its inventory in a rapidly changing business environment; (ix) changes in client needs and consumer spending habits; (x) the impact of competition; (xi) the impact of technological changes including, specifically, the growth of online marketing and sales activity; (xii) the Company’s ability to manage its growth effectively, including its ability to successfully integrate any business it might acquire; (xiii) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; and (xiv) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
| CONTACT: | Paul G. Driscoll | Acme United Corporation | 1 Waterview Drive | Shelton, CT 06484 |
| Phone: (203) 254-6060 | FAX: (203) 254-6521 |
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