Phillips-Medisize Corp. is extending its manufacturing capabilities to the northeastern United States, acquiring Injectronics Inc., which has two Massachusetts facilities.
Hudson, Wis.-based Phillips-Medisize said in a June 30 news release that the current Injectronics management team will continue to oversee Injectronics operations in Clinton and Westborough. Terms of the deal were not released.
Injectronics provides contract engineering and manufacturing for consumable diagnostics and medical device customers. It is headquartered in Clinton, and also has a smaller facility for high-volume work 15 miles away in Westborough.
In the latest Plastics News rankings, Injectronics had about 110 employees with estimated sales of $28 million.
“This transaction is consistent with our strategic focus to further broaden our reach into the northeastern U.S. and will enable us to better serve our biopharmaceutical and medical device customers. Our two companies have similar cultures, and we admire Injectronics' commitment to investing in their people, processes and purpose-built facilities. I am excited about working with the talented people of Injectronics and I look forward to establishing our design and development capabilities in the Greater Boston area,” said Matt Jennings, chairman, CEO and president of Phillips-Medisize, in the news release.
Injectronics President Paul Nazzaro said the deal “creates new opportunities for growth and provides our local customer base access to Phillips-Medisize's global network of design, development and production capabilities and functions across all platforms.”
Phillips-Medisize has annual sales approaching $700 million, with 80 percent of the total coming from drug delivery, medical device, primary pharmaceutical packaging and diagnostic products. It makes disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single-use surgical devices and consumable diagnostic components.
The transaction is expected to close in early July.
Phillips-Medizise is headquartered in Hudson, Wis., and employs more than 3,900. With the addition of Injectronics, it will now have 17 production locations in the United States, Europe, Mexico and China. It also has a global design network with hubs in Hudson and Stuer, Denmark.
Robert Cervenka and Louie Vokurka founded Phillips Plastics Corp. in 1964. Cervenka sold Phillips to private equity firm Kohlberg & Co. LLC in 2010, and the next year Phillips bought European molder Medisize Corp.
Golden Gate Capital bought Phillips-Medisize from Kohlberg & Co. in 2014.