Nordson Corp. acquires injection molder Plas-Pak Industries
February 8, 2017 by Canadian Plastics
Dispensing equipment and fluid control systems supplier Nordson Corp. has acquired Plas-Pak Industries Inc., a Norwich, Con.-based designer and manufacturer of injection molded, single-use plastic dispensing and packaging products.
The terms of the deal have not been disclosed.
“Plas-Pak’s recurring revenue model, proprietary technology, and low-dollar-cost, high-value-add selling proposition are highly complementary and consistent with our existing Nordson EFD product line,” said Jeff Pembroke, corporate VP for Nordson’s advanced technology systems segment. “Plas-Pak strengthens Nordson EFD’s position in select industrial end markets, while providing access to a rapidly growing animal health market and broader exposure to the DIY, pesticide and dental markets. We expect to leverage Nordson’s global footprint to accelerate Plas-Pak’s growth beyond its current strong presence in North America. The transaction also aligns with our strategic objective of diversifying Nordson’s Advanced Technology segment through greater participation in less cyclical end markets.”
Founded in 1985, Plas-Pak employs approximately 150 people and operates a 160,000-square-foot facility. According to Nordson, the firm has averaged high single digit annual revenue growth over the last five years.
Founded in 1954 and headquartered in West Lake, Ohio, Nordson engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces.