Medical plastics firm Natech Plastics Inc. has been acquired for $30 million by Stratec SE, a publicly held firm based in Birkenfeld, Germany.
Natech, headquartered in Ronkomkona, N.Y., designs and produces polymer-based consumables for customers in medical technology, in-vitro diagnostics, life sciences, consumer goods and specialist packaging, officials said in a news release. The firm has production capacities for injection molding and assembly, including clean room production.
Natech posted sales of $16.3 million in 2022 and has posted double-digit sales gains in each of the last three years. The deal is expected to close in July.
In the release, Stratec CEO Marcus Wolfinger said that Natech's complementary product and customer portfolio and new target markets "make it a perfect addition to [Stratec's] business model, which focuses on OEM partnerships."
The acquisition gives Stratec a U.S. production site. Wolfinger added that Stratec intends to expand the site to include system production. "This will enable us to address customer needs even more effectively in future and further boost our position in what is an important market for us," he said.