Nordson buying Calif.-based medical tubing specialist Avalon

Scott Suttell
CRAIN'S CLEVELAND BUSINESS

Published: August 5, 2014 10:48 am ET
Updated: August 5, 2014 10:54 am ET

Image By: Avalon Laboratories Holding Corp. Avalon Laboratories Holding Corp. produces catheters and medical tubing.

Related to this story

Topics Medical Mergers & Acquisitions Pipe/Profile/Tubing Extrusion United States Mexico
Companies & Associations

Westlake, Ohio-based Nordson Corp.  said it agreed to pay $180 million for a Los Angeles company that makes catheters and medical tubing products for cardiology, pulmonology and related applications.

The acquisition of Avalon Laboratories Holding Corp. “is expected to be financed with availability under existing credit facilities,” Nordson said in a news release. The transaction is expected to close within two weeks.

Michael F. Hilton, Nordson president and CEO, said in the release that Avalon “brings Nordson another stream of high value recurring revenue and further reduces our exposure to more cyclical end markets.” He said Avalon “has generated double-digit compound annual growth rates in revenue and EBITDA since 2008 through a combination of innovative products, unique intellectual property, process know-how, strong customer relationships, and scalable low cost manufacturing.”

Avalon, founded in 1990, will become part of Nordson’s Advanced Technology Systems segment. The company has about 400 employees at its Los Angeles headquarters and at a manufacturing plant in Guaymas, Mexico.

Nordson said Avalon’s Polymer Solution Casting manufacturing technology enables it to “produce seamless one piece tubing of varying wall thicknesses and in complex geometric designs. The technology also enables Avalon to embed specialized customer-specific features within its tubing, including multiple lumen, kink resistance and advanced imaging capabilities.”

Nordson, a maker of precision dispensing equipment for applying industrial coatings, expects the acquisition to be accretive to earnings in the first full year of operation.


Comments

Nordson buying Calif.-based medical tubing specialist Avalon

Scott Suttell
CRAIN'S CLEVELAND BUSINESS

Published: August 5, 2014 10:48 am ET
Updated: August 5, 2014 10:54 am ET

Post Your Comments


Back to story


More stories

Image

TPUs finding applications in drug-delivery applications

March 30, 2015 12:56 pm ET

Lubrizol Corp. is sending its thermoplastic polyurethane products into medical products, foam and film.    More

Image

Eastman Chemical expanding Tritan co-polyester capacity

March 27, 2015 10:00 am ET

Eastman Chemical Co.'s Tritan-brand co-polyester business continues to grow, with 35 million pounds of capacity added late last year and a second...    More

Image

Getting a real feel for how 'vinyl saves lives'

March 27, 2015 6:00 am ET

While I'm certainly not shipping off to Africa anytime soon, I got a taste of what medical professionals go through in the fight against Ebola and...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Intertech Medical adding presses, people

March 23, 2015 3:28 pm ET

Colorado's Intertech Medical has added five new injection molding presses and expects to add up to another four machines to keep up with a growth in s...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events