Stratec se: Stratec further expands its presence in USA by acquiring natech plastics

STRATEC SE, (Frankfurt: SBS; Prime Standard, SDAX) has signed an agreement to acquire Natech Plastics, (hereinafter: “Natech”), based in Ronkonkoma, NY/USA. Natech designs and manufactures smart polymer-based consumables for customers in medical technology, in-vitro diagnostics, life sciences, consumer goods, and specialist packaging solutions. The company has state-of-the-art production capacities for injection molding and assembly, including clean room production. The transaction price agreed for the company, which has almost no debt, amounts to USD 30.0 million, plus a variable component (earn-out) based on defined performance criteria through to 2025. This will be financed with a newly arranged credit line. Natech generated profitable sales growth in a double-digit percentage range in each of the past three years. In the 2022 financial year, its sales amounted to USD 16.3 million. Accounting for associated financing costs, the acquisition should have a neutral to slightly positive impact on adjusted earnings per share at the STRATEC in the 2024 financial year. The completion of the transaction, and thus first-time consolidation, are expected in July 2023.

Comments Marcus Wolfinger, CEO of STRATEC: “We are delighted to welcome Natech to the STRATEC . Natech’s complementary product and customer portfolio, together with new target markets, make it a perfect addition to our business model, which focuses on OEM partnerships. Natech also offers great potential for further targeted diversification in our business. The acquisition also means we have gained a US production site, which we intend to expand to include system production as well. 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. Thanks to the STRATEC already strong market position in smart consumables, particularly in cooperation with the players in the in-vitro diagnostics industry, we expect to see notable synergies in terms of sales and technology. We are convinced that, together with the management team around Thomas Nagler and their excellent network of contacts in our industry, we will consistently maintain Natech’s growth trajectory within the STRATEC and underpin this by gaining additional cooperations.”

Adds Thomas Nagler, CEO of Natech: “Natech has grown at an enormous pace in recent years and built up great expertise and customer confidence. I am sure that, as part of the STRATEC , we will lever our potential even more successfully in future. All our managers are highly motivated, as is the whole of our workforce of more than 70 people, and I look forward to the tasks ahead, to working together, and to building our common future.”