SOLON, Ohio — Q Holding Co. has entered into an agreement to acquire TBL Performance Plastics.
Based in Sparta, N.J., TBL is a manufacturer of single-use bio-process components and systems, including fittings, tubing, single-use assemblies and fabrication.
"We are delighted to have reached this agreement to purchase TBL," Q CEO Thomas J. Hook said in a statement. "The businesses are highly complementary and the acquisition represents a critical milestone in building Q's biopharma business. It will significantly enhance the value we can deliver to our North American customer base."
Q said in a statement that the TBL deal is a strategic acquisition for its biopharma business. The move will allow it to offer an in-depth suite of development and manufacturing services, material technologies and industry expertise.
"We are excited to be working with Q to build an industry-leading single-use technology business," TBL CEO P. Robert DuPont Jr. said in a statement. "Q's operational excellence, synergistic capabilities, and silicone products are powerful resources. Combined with TBL's portfolio of other non-metallic products and services for the biotech industry, our companies are strategically aligned as key players in the industry. The alignment will benefit our customers by providing them with a greater global network, product development, and manufacturing capabilities."
Based in Solon, Q produces engineered and elastomeric solutions for the life sciences, automotive and industrial markets with locations in North America, Mexico, Europe, the Middle East, India and China.