Swedish injection molder Nolato AB is acquiring Treff AG, 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 representatives 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 at its plant in Degersheim, in the canton of St. Gallen, Switzerland.
Based in Torekov, Sweden, polymer processor Nolato has operations in Europe, Asia and North America, working in plastic, silicone and thermoplastic elastomers for the medical, auto, telecommunications and some industrial markets. The company ranked at No. 17 on the most recent Plastics News Europe survey of European injection molders.
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 Sp. z.o.o., a medical device assembly, post-processing and quality assurance company that has been a Nolato partner since the 1990s.
In the United States, Nolato has one plant in Baldwin, Wis.