WASHINGTON—Swedish injection molder Nolato is acquiring Treff A.G., a Swiss medical device manufacturer, the companies announced Sept. 26.
The transaction is expected to be completed in the first week of October.
The acquisition moves Nolato into German-speaking Europe, strengthening the customer base and geographical expansion of both Nolato Medical and Nolato Industrial, company reps said.
“We think the combination is a good thing for the long term, to be in two market segments with one company,” said Nolato President and CEO Christer Wahlquist, on a call with reporters and investors.
About two-thirds of Treff's business will fall under Nolato's industrial side and one-third under Nolato Medical, though there will be no restructuring and Treff will continue its operations as-is, Wahlquist said.
Treff employs about 190 people at its plant in Degersheim, in the canton of St. Gallen, Switzerland and saw about $52 million in sales last year, according to a press release.
Based in Sweden, polymer processor Nolato has operations at 15 sites in Europe, Asia and North America, working in plastic, silicone and TPE for the medical, auto, telecommunications and some industrial markets. The company is 17th in European Plastics News' most recent ranking of injection molders with $442 million in global injection molding sales, $406 million of it in Europe, last year.
The bolt-on acquisition of Treff is a continuation of Nolato's expansion on the medical molding side. Earlier this month the company announced the acquisition of Poland-based Grizzly Medical, a medical device assembly, post-processing and quality assurance company that has been a Nolato partner since the 1990s.