ORAFOL Europe GmbH has announced that the Reflexite Corporation is now part of the ORAFOL Group.
As one of the world's leading suppliers of reflective materials, graphic products and industrial tapes, the ORAFOL Group has a global presence, a strong brand built through customer engagement and a focus on being "Engineered to Perform Better™."
Reflexite has built its globally recognized brand with a focus on "Saving Lives and Saving Energy" as one of the world's leading manufacturers of reflective materials and energy-saving optical components and films. As part of the ORAFOL Group, Reflexite will continue to refine and grow its current strategy and will remain an independent entity consolidated into ORAFOL International, Inc., ORAFOL's U.S. holding company.
"The benefits of the partnership are obvious and multi-faceted," said Dr. Michael Foley, CEO of Reflexite. "ORAFOL is a company with a proven willingness to invest in technology and capacity expansion, which will enable Reflexite to continue to grow and expand to its full potential. As a privately held company, ORAFOL has the same long-term decision perspective that has been a hallmark of Reflexite's business philosophy and success over the last 40 years."
Following the completion of the transaction, both ORAFOL and Reflexite will provide an enhanced offering to their global customer base as a leading supplier of reflective materials, graphic products and industrial tapes.
"We are confident that this transaction has assembled a very focused and highly motivated team. The combined strengths of both companies have positioned the ORAFOL Group to realize a vision based on the highest of standards," said Dr. Holger Loclair, Managing Director of the ORAFOL Europe GmbH and President of ORAFOL International Inc.
The completion of the transaction was largely made possible by the consent of the employees and directors of Reflexite. Before the merger, Reflexite was majority owned by its employees and directors, through direct stock ownership and through the company's 25-year-old Employee Stock Ownership Plan.
ORAFOL and Reflexite will share additional information regarding their enhanced performance with their worldwide customers in September.
UBS Investment Bank and Robinson & Cole LLCP acted as financial and legal advisors, respectively, to Reflexite in this transaction.
KPMG and KPMG Law acted as financial, transactional, and legal advisors, respectively, to ORAFOL in this transaction.