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 Mergers & Acquisitions, Mexico, United States, Medical, Extrusion, Pipe/Profile/Tubing

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

VisiPak adds to customer mix, product offerings with Tulox acquisition

March 5, 2015 2:19 pm ET

VisiPak has acquired Tulox Plastics Corp., a maker of clear plastic packaging.    More

Image

Bigger doors, windows gain appeal

March 5, 2015 11:43 am ET

Door and window manufacturers are continuing to super-size product lines to make a grander first impression at main entrances and to expand vista...    More

Image

Auto supplier Motus adds more production as it buys Leon Interiors

March 5, 2015 10:52 am ET

Motus Integrated Technologies, a Tier 1 automotive interiors supplier, is getting bigger, adding the assets of Tier 2 supplier Leon Interiors Inc.    More

Image

Mold maker Moldworx building in Arizona to bring in more molding

March 5, 2015 10:13 am ET

Moldworx LLC has begun leasing more space in Gilbert, Ariz., to allow it to grow its injection molding business.    More

Image

Wright Plastic Products buys Tennessee auto supplier Hope Industries

March 4, 2015 3:51 pm ET

Michigan custom injection molder Wright Plastic Products Co. LLC has acquired Tennessee-based automotive supplier Hope Industries Inc., the companies ...    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