WESTLAKE, Ohio--(BUSINESS WIRE)--
Nordson Corporation (Nasdaq: NDSN) has acquired Plas-Pak Industries, Inc., a Norwich, Connecticut designer and manufacturer of injection molded, single-use plastic dispensing and packaging products including two-component (2K) cartridges for industrial and commercial do-it-yourself (DIY) adhesives, dial-a-dose calibrated syringes for veterinary and animal health applications, and specialty syringes for pesticide, dental and other markets. Terms of the deal were not 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 Vice President 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.”
“Plas-Pak’s talented team of employees has grown the business significantly over the years through a focus on innovation, quality, customer service and lean manufacturing,” said Plas-Pak majority owner Charles M. Frey, who has been involved with the business since its inception and will support the transition to Nordson. “Plas-Pak and Nordson share similar cultures, and I am confident Nordson will continue to provide value to our customers and growth opportunities for our employees.”
Founded in 1985, Plas-Pak Industries employs approximately 150 people and operates a 160,000 square foot, ISO 9001:2008 facility with significant capacity to accommodate future growth. Plas-Pak products are sold to a diverse customer base in which no single customer accounts for more than 8 percent of total revenue. The technology portfolio includes multiple proprietary and patented products. The company has averaged high single digit annual revenue growth over the last five years. Nordson will provide additional details on the transaction when it reports fiscal year 2017 first quarter results later this month.
Nordson Corporation 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. These products are supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in nearly 40 countries. Visit Nordson on the web at www.nordson.com, www.twitter.com/Nordson_Corp or www.facebook.com/nordson.
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