Business
Richards Packaging Income Fund announces acquisition of National Dental Inc. and HL Production SA
Richards Packaging Income Fund announces acquisition of National Dental Inc. and HL Production SA...
About this update from Richards Group Inc.
[{"type":"text","content":"\n\n\n\n Richards Packaging Income Fund announces acquisition of National Dental Inc. and HL Production SA\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Feb. 28, 2025\n \n\n /CNW/ - Richards Packaging Income Fund (TSX: RPI.UN) (the \"Fund\") announces today two strategic acquisitions to add to its healthcare line up.\n \n\n The Fund, through its subsidiary, Clarion Medical Technologies Inc., has acquired all of the outstanding shares of National Dental Inc. (\"National Dental\"), a leading Canadian provider of high-tech laser and diagnostic devices to the dental care industry. The purchase price of\n \n $10.0 million\n \n was financed by a\n \n $9.7 million\n \n draw down on the revolving credit and a\n \n $0.3 million\n \n holdback from the vendors. This purchase price is subject to additional consideration contingent on National Dental's future earnings through 2026 or 2027. The acquisition is expected to be accretive to earnings in 2025.\n \n\n \"We are pleased to announce the acquisition of National Dental, which adds a third major market vertical to our private clinic medical device distribution business, alongside aesthetics and vision. We believe National Dental's focus on innovative laser and imaging devices will elevate the standard of dental patient care and we are confident in our ability to support their growth targets through our Clarion Medical Technologies platform.\" commented\n \n John Glynn\n \n , President of Richards Packaging\n \n\n \"National Dental is thrilled to become part of the Clarion Medical Technologies team. The synergy between our companies presents exciting growth opportunities, and we are invigorated by Clarion's vision for the future. With over 30 years of experience supporting dentists with cutting-edge technology, we believe our philosophies align perfectly and look forward to working with their talented team.\", commented\n \n Neil and Cliff Magneson\n \n , founders of National Dental Inc.\n \n\n The Fund, through its subsidiary Richards Packaging Holdings ...