UFP Technologies Acquires Dielectrics, Inc.
OREANDA-NEWS. UFP Technologies, Inc., a designer and custom converter of foams, plastics and specialty materials, today announced the acquisition of Dielectrics, Inc. Founded in 1954 and based in Chicopee, Massachusetts, Dielectrics is a leader in the design, development, and manufacture of medical devices using thermoplastic materials. Sales in 2017 were approximately $43 million.
“We are very excited to join forces with this highly respected medical technology company,” said R. Jeffrey Bailly, chairman, CEO, and president of UFP Technologies. “Dielectrics is an outstanding strategic and cultural fit that we believe will make us significantly more valuable to our growing medical customer base. Today, around 60% of Dielectrics’ customers are our customers too. Because we provide complementary – not competing – products and services, we see many opportunities to create powerful synergies and address customer needs in a more comprehensive way.”
“In addition to its strong medical customer relationships, Dielectrics brings a superb management team and profitable book of business,” Bailly said. “We are committed to continue expanding our medical business, due to its excellent growth potential and high barriers to entry. It's our largest market, and we expect this acquisition to enhance our manufacturing capabilities and add to our earnings right away.”
Eric Stahl, Dielectrics chairman & CEO, is equally upbeat. “UFP is the ideal company for us to partner with,” said Stahl. “We have very similar cultures and philosophies, and share a value proposition based on innovative engineered solutions and the ability to solve customers’ most challenging problems. I am confident that UFP’s diverse capabilities, strong reputation, and national footprint will enable us to become even more valuable to our customers.”
UFP Technologies is an innovative designer and custom converter of foams, plastics, and natural fiber materials, principally serving the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. The UFP team acts as an extension of its customers’ in-house research, engineering, and manufacturing groups, working closely with them to solve their most complex product and packaging challenges.