DuPont completes acquisition of Spectrum Plastics Group
Canadian PlasticsPlastics Processes
Spectrum brings a full array of medical injection molding, extrusion, and packaging capabilities to DuPont.
Chemical maker DuPont has completed its acquisition of Spectrum Plastics Group, a provider of advanced manufacturing services to the medical device sector, from global private equity firm AEA Investors for US$1.75 billion.
The deal was first announced in May 2023.
“I am pleased to welcome our talented Spectrum colleagues to DuPont,” said “We are excited to add Spectrum’s best-in-class advanced manufacturing capabilities, and decades-long customer relationships with the largest medical device OEMs to our existing healthcare portfolio,” said Ed Breen, DuPont executive chairman and CEO, said in an Aug. 1 news release. “This acquisition fully aligns with our strategic objectives and is expected to increase overall top-line growth rates for DuPont through a broader and more integrated set of offerings for critical healthcare applications led by customer-driven innovation.”
With a global workforce of approximately 2,200 employees and annual revenue of about US$500 million, Spectrum will become part of the Industrial Solutions line of business within DuPont’s Electronics & Industrial segment.
DuPont said the deal complements its existing offerings for biopharma and pharma processing, medical devices, and packaging, including the Liveo silicone line and Tyvek medical packaging.
“The combination with Spectrum increases [our] existing revenue to high-growth healthcare markets to approximately 10 per cent of our portfolio,” DuPont said.