UFP Technologies Acquires AJR Enterprises
2024年7月1日 - 10:15PM
UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom
manufacturer of comprehensive solutions for medical devices,
sterile packaging, and other highly engineered custom products,
today announced the acquisition of AJR Enterprises, LLC.
Headquartered in St. Charles, Illinois, with additional
manufacturing in the Dominican Republic, AJR Enterprises develops
and manufactures single use safe patient handling systems.
“We are very excited to add AJR Enterprises’
capabilities to our patient surfaces portfolio,” said R. Jeffrey
Bailly, chairman and CEO of UFP Technologies. “Patient surfaces and
transfer devices are a growing market due in part to government
guidelines and legislation around safe patient handling. AJR’s ‘cut
and sew’ manufacturing services and specialty fabrics expertise
align very well with our strategy to bring more value to our
customers through expanded capabilities and locations.”
“Combined with our thermoplastic joining
expertise, we can now offer a comprehensive suite of development,
commercialization, and manufacturing services for this market,"
said Bailly. “In addition, AJR Enterprises has an outstanding team
that places the same importance on teammate engagement, high
ethics, and client satisfaction as does UFP.”
“With UFP Technologies’ ability to expand our
capabilities and continue our high standards in quality and
service, we found the perfect fit,” said John Rukel, chief
operating officer, AJR Group. “Together, our companies will offer
extraordinary design and manufacturing capabilities across the safe
patient handling space. We are confident that UFP will continue to
grow the business while maintaining the culture and values we have
built over the past 25 years.”
Transaction Financial
Highlights
- UFP acquired
AJR Enterprises, LLC for $110 million
- AJR generated
sales of approximately $70 million in 2023 and $75 million in the
trailing 12-month period ended March 31, 2024
- AJR generated
adjusted earnings before interest, taxes, depreciation, and
amortization (“EBITDA”) of approximately $16.6 million in 2023 and
$18.3 million in the trailing 12-month period ended March 31,
2024
- The transaction
was financed with borrowings under UFP’s amended and restated
credit agreement
About UFP Technologies,
Inc.
UFP Technologies is a designer and custom
manufacturer of comprehensive solutions for medical devices,
sterile packaging, and other highly engineered custom products. UFP
is an important link in the medical device supply chain and a
valued outsource partner to most of the top medical device
manufacturers in the world. The Company’s single-use and
single-patient devices and components are used in a wide range of
medical devices and packaging for minimally invasive surgery,
infection prevention, wound care, wearables, orthopedic soft goods,
and orthopedic implants.
Forward Looking Statements
This press release contains statements relating
to expected financial performance and/or future business prospects,
events and plans that are forward-looking statements. Such
statements include, but are not limited to: the anticipated effects
on us of acquiring AJR Enterprises, LLC, including the debt we
incurred to do so; anticipated trends in the different markets in
which we compete and expectations regarding customer demand;
expectations regarding our business opportunities; and statements
about our growth potential and strategies for growth. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties that could adversely affect our business and
prospects, and otherwise cause actual results to differ materially
from those anticipated by such forward-looking statements,
including the risks that the Company will not realize the
anticipated benefits of the acquisition of AJR Enterprises LLC due
to the inability of the Company to execute its business strategy,
AJR Enterprises integration strategy or otherwise as well as other
risks and uncertainties that are detailed in the documents we file
with the SEC. Accordingly, actual results may differ materially.
Readers are referred to the documents we file with the SEC,
specifically the last report on Form 10-K. The forward-looking
statements contained herein speak only of our expectations as of
the date of this press release. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any such statement to reflect any change in our
expectations or any change in events, conditions, or circumstances
on which any such statement is based.
UFP
Technologies, Inc. |
|
www.ufpt.com |
100 Hale Street |
|
Contact:
Ron Lataille |
Newburyport, MA 01950 USA |
|
978-234-0926, rlataille@ufpt.com |
Ufp Technologies (NASDAQ:UFPT)
過去 株価チャート
から 9 2024 まで 10 2024
Ufp Technologies (NASDAQ:UFPT)
過去 株価チャート
から 10 2023 まで 10 2024