Nolato has entered into an agreement to acquire Poland-based Grizzly Medical, which is involved in the assembly, post-processing and quality assurance of medical device components and systems. The company has been a supplier to and partner of Nolato Medical since the 1990s.
Nolato Acquisition
“This is a relatively small but strategically important acquisition that boosts our capacity in the low-volume, clean room-based production segment, including assembly and post-processing, giving us an even more comprehensive customer offering. We are seeing growing demand for complex products and systems that require manual or semi-automated processing, and we believe this company will be an important part of Nolato’s future growth strategy,” said Nolato president and CEO Christer Wahlquist.
Grizzly Medical is estimated to have sales of around SEK 25 million for 2016, with good profitability. The purchase price is SEK 14 million and the business will be consolidated into Nolato from 1 September. The company will operate under the name Nolato Stargard and will be led by the current management.
“Acquisitions are a natural part of Nolato’s growth strategy and we are continually working to acquire additional operations that both fit our growth strategy and strengthen our overall customer offering” said Wahlquist.