Acme United’s Bold Move: $4.2M Acquisition of Elite First Aid Boosts Growth Prospects

Acme United (NYSE: ACU) announced on Thursday that it has bought the assets of Elite First Aid, a company that supplies products for tactical, trauma, and emergency response. Here are the main points explained in simpler terms:

• Who Made the Acquisition: Acme United, a company listed on the New York Stock Exchange (NYSE) under the ticker ACU.
• What Was Acquired: The assets of Elite First Aid, which means Acme United now owns the products, technology, and possibly other parts of Elite First Aid’s business.
• Nature of Elite First Aid’s Business: They provide products used in tactical situations, trauma care, and emergency response, which are crucial for handling injuries and emergencies.

• Revenue Details: In 2023, Elite First Aid earned about $4.2 million in revenue, indicating it is a small but potentially valuable addition to Acme United.
• Purchase Price: The amount Acme United paid to acquire Elite First Aid was not revealed.
• Financial Impact: The acquisition is expected to be “accretive,” which means it should increase Acme United’s earnings or profits over time.

In summary, Acme United has strengthened its position in the emergency response market by acquiring Elite First Aid, a company with solid earnings, though the exact financial details of the deal remain undisclosed.

About Acme United

Acme United Corporation has a rich history spanning 150 years since its inception in 1867. Here are some key points about the company:

1. Founding and Early Years:
   • The roots of Acme United can be traced back to 1867 when German immigrant Leo Renz established the Renz Shear Shop in Naugatuck, Connecticut. The shop specialized in cast iron shears and scissors.
   • In 1873, Leo Renz, along with his brother Robert Renz, another family member Mitchell Renz, and John Peck, officially incorporated their business as The Renz Shear Company.
   • The business continued to grow, and in 1880, Mitchell Renz moved the operations to Fairfield, Connecticut, renaming the company as The Acme Shear Company.
   • Under the management of David C. Wheeler and Dwight Wheeler, who joined the business, Acme Shear expanded its product lines.
2. Growth and Achievements:
   • By 1885, Acme Shear needed more manufacturing capacity and established a brand new plant in Bridgeport, CT, where it produced scissors and shears for 111 years.
   • During World War I, Acme Shear’s production reached historical highs, supplying large shipments to the U.S. Navy, Army, Red Cross, and Emergency Fleet.
   • In 1936, Acme Shear became the largest scissor and shear manufacturer globally, a position it still holds today.
   • The company’s exports boomed, and by 1942, it converted to war work, producing millions of industrial and surgical shears.
3. Medical Field and Expansion:
   • After World War II, Acme Shear expanded its production capacity to meet growing demand as the United States and Europe rebuilt.
   • In the 1960s, Acme Shear acquired Surmanco Ltd, a scissors manufacturer in Sheffield, UK, with the goal of selling directly to the European market.
4. Current Endeavors:
   • Acme United Corporation continues to innovate and supply cutting devices, hunting and fishing tools, and first-aid products.
   • The company holds more than 10 patents and has introduced over 125 different products, including 10 in the past five years.
   • Acme United serves various markets, including DIYers, gardening enthusiasts, woodworkers, hunters, fishermen, and military and law enforcement personnel.

In summary, Acme United Corporation has a remarkable history, starting from its humble beginnings as a shear shop to becoming a global leader in scissor and shear manufacturing. Their commitment to innovation and quality remains strong, making them a trusted supplier across various industries. If you’d like more information, you can visit their official website here.

About Elite First Aid

Elite First Aid, Inc. is a company that specializes in providing first aid kits and related products. Here are some key points about the company:

1. Product Offerings:
   • Elite First Aid offers a variety of first aid, trauma, and medical kits.
   • They also create custom-built kits to meet specific needs.
2. History and Focus:
   • The company has been producing quality medic first aid kit products since 1995.
   • Their mission is to demonstrate that saving lives doesn’t have to be expensive.
3. Customer Base:
   • Elite First Aid serves customers primarily in the United States.
   • Some notable organizations that use their kits include:
     • Salt Lake City Police Department
     • U.S. Border Patrol
     • U.S. Army
     • U.S. Embassy
     • Forest Services
     • Stanford University
     • U.S. Marshals
     • Ukrainian Army
     • Princeton University
     • Las Vegas Police Department
4. Upcoming Event:
   • Elite First Aid will be participating in the SHOT Show in 2024 (January 23-26).
   • The SHOT Show is a significant event for the shooting, hunting, and outdoor industry.

Summary

To read more news, click here