James H. "Jim" Shacklett II and James H. "Jamie" Shacklett IV have agreed to sell National Label Co., the high-tech consumer-products label maker that employs 350 at its Lafayette Hill headquarters and plant and another 100-plus at its Singapore and Puerto Rico plants, to Resilience Capital Partners of Cleveland.
The buyer has changed the company's name to LUX Global Label Co. "They already make very pretty labels. We're going to invest significantly in the facilities, and we'll look to acquire more business," Steven H. Rosen, Resilience's co-CEO, told me. Jamie Shacklett, whose family had controlled National since 1914, will stay on as executive vice president, Jim will remain an adviser.
National Label makes 20 billion labels a year, including labels that transmit battery currents, verify drug contents and tampering, and are printed in metallic inks, for clients in the U.S., Europe, Asia, and the Middle East. Ron Cozean, executive chairman of Lux, said the company has "the scale, the distribution, and the expertise to be a leader globally." The buyer won't say how much it paid.
Resilience said National had overseen "extensive capital investments" worth nearly $54 million to update label technology since 2013. He said the deal was partly financed by LBC Credit Partners, and that Kennedy Group, which supplies labeling technology, was also a partner in the deal.