Breaking News

Lakeland Acquires Brazilian PA Maker

May 14, 2008

Terms include $13 million cash at closing.

Lakeland Industries, a market leader in protective apparel, has completed the acquisition of Brazilian protective apparel supplier Qualytextil S.A. Under the terms of the transaction, Lakeland paid about $13.3 million at closing. Terms also include an earnout based on Qualytextil meeting specific increased earnings before interest, taxes, depreciation and amortization (EBITDA) targets in 2010. The acquisition was funded by existing cash and borrowings from a commercial line of credit, and is expected to be accretive to Lakeland's earnings per share.

Qualytextil, based in Salvador Bahia, Brazil, was founded in 1999 and serves the Brazil Protective Clothing market in the following areas: firemen's turnout gear, conductive and electric arc garments, chemical protective garments, occupational, multilayer and waterproof operational garments, aluminized and molten metal lines of protective clothing. With an in-house sales force of 20 employees and 28 outside sales representatives, it covers the entire country, selling directly to end users. Qualytextil markets products directly to major state-owned companies and agencies and the main oil and chemical companies in Brazil. As the latest addition to Lakeland's expanding international presence, Qualytextil's regional Brazilian operations, including manufacturing, sales and marketing, warehousing, and distribution, benefit from state-provided tax incentives, favorable labor rates and proximity to economical transportation for distribution of garments throughout Brazil and into neighboring countries.

  • Fibers Market Outlook

    Fibers Market Outlook

    Tara Olivo, associate editor||June 8, 2015
    Natural and synthetic fiber producers create unique solutions for all nonwovens applications.

  • Keeping It Clean

    Keeping It Clean

    Tara Olivo, associate editor||June 8, 2015
    Convenience and continued innovation keeps the household wipes market thriving.

  • Raw Materials Round Up

    Raw Materials Round Up

    Karen McIntyre, editor||June 8, 2015
    Suppliers create additives, preservatives and other specialties to help nonwovens makers meet their goals.