Nolato acquires U.S.-based medtech manufacturer GW Plastics
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The $230-million acquisition provides Sweden-based Nolato with significant volumes and a strong position in North America for the medical solutions business area.
Swedish polymer product and component maker Nolato Group is buying U.S. medical technology company GW Plastics for approximately US$230 million.
GW Plastics is headquartered in Bethel, Vermont, and operates seven production facilities in the U.S., Mexico, China, and Ireland.
“[This] acquisition provides significant volumes and a strong position in North America for the medical solutions business area, offering additional opportunities for growth and underpinning existing core customer relationships,” Nolato president and CEO Christer Wahlquist said in an Aug. 6 statement. “This acquisition provides us with significant volumes and a strong position on the key North American continent. It supports relationships with existing customers, while also creating additional opportunities for growth and expanding our customer base.”
GW Plastics was founded in 1955. Its products are mainly used in medical devices and vehicle systems. Just over four-fifths of GW Plastics business will be reported under the medical solutions business area, with the remainder reported under industrial solutions.
Current GW Plastics management will remain with the business, Nolato said.
The transaction is expected to be completed in September, when the business will be consolidated into the Nolato Group.