UFP Technologies Acquires AQF Medical
UFP Technologies, Inc. (Nasdaq: UFPT) has announced the acquisition of AQF Medical, a custom manufacturer of foam and thermoplastic components for medical devices and packaging. This marks UFP's fourth acquisition in recent months, expanding their MedTech platform and international presence. AQF Medical, headquartered in Navan, Ireland, with joint venture operations in Singapore, brings strategic value to UFP's global operations.
R. Jeffrey Bailly, Chairman and CEO of UFP Technologies, highlighted the acquisition's benefits, including an expanded European manufacturing presence and access to the Asian market. The companies share similar processes, materials, and clients, promising synergies and growth opportunities. Seamus Fagan, Managing Director of AQF Medical, expressed enthusiasm about joining UFP, anticipating mutual benefits for their worldwide client base.
UFP Technologies, Inc. (Nasdaq: UFPT) ha annunciato l'acquisizione di AQF Medical, un produttore personalizzato di componenti in schiuma e termoplastici per dispositivi medici e imballaggi. Questo segna la quarta acquisizione di UFP negli ultimi mesi, espandendo la loro piattaforma MedTech e la presenza internazionale. AQF Medical, con sede a Navan, Irlanda, e operazioni in joint venture a Singapore, porta un valore strategico alle operazioni globali di UFP.
R. Jeffrey Bailly, Presidente e CEO di UFP Technologies, ha sottolineato i benefici dell'acquisizione, tra cui una maggiore presenza nel settore manifatturiero europeo e l'accesso al mercato asiatico. Le aziende condividono processi, materiali e clienti simili, promettendo sinergie e opportunità di crescita. Seamus Fagan, Direttore Generale di AQF Medical, ha espresso entusiasmo per l'unione a UFP, anticipando benefici reciproci per la loro clientela mondiale.
UFP Technologies, Inc. (Nasdaq: UFPT) ha anunciado la adquisición de AQF Medical, un fabricante personalizado de componentes de espuma y termoplásticos para dispositivos médicos y embalajes. Esta marca la cuarta adquisición de UFP en los últimos meses, ampliando su plataforma MedTech y presencia internacional. AQF Medical, con sede en Navan, Irlanda, y operaciones de joint venture en Singapur, aporta un valor estratégico a las operaciones globales de UFP.
R. Jeffrey Bailly, Presidente y CEO de UFP Technologies, destacó los beneficios de la adquisición, incluyendo una mayor presencia en la fabricación europea y acceso al mercado asiático. Las empresas comparten procesos, materiales y clientes similares, prometiendo sinergias y oportunidades de crecimiento. Seamus Fagan, Director General de AQF Medical, expresó su entusiasmo por unirse a UFP, anticipando beneficios mutuos para su base de clientes en todo el mundo.
UFP Technologies, Inc. (Nasdaq: UFPT)는 의료 기기 및 포장을 위한 맞춤형 폼 및 열가소성 구성 요소 제조업체인 AQF Medical의 인수를 발표했습니다. 이는 UFP의 최근 몇 개월 동안의 네 번째 인수로, 그들의 MedTech 플랫폼과 국제적 존재감을 확장합니다. 아일랜드 나반에 본사를 두고 있으며, 싱가포르에서 합작 사업을 운영하는 AQF Medical은 UFP의 글로벌 운영에 전략적 가치를 제공합니다.
UFP Technologies의 회장 겸 CEO인 R. Jeffrey Bailly는 인수의 이점, 즉 유럽 제조업에서의 확장된 존재감과 아시아 시장 접근을 강조했습니다. 두 회사는 유사한 프로세스, 자재 및 고객을 공유하여 시너지 효과와 성장 기회를 약속합니다. AQF Medical의 관리 이사인 Seamus Fagan은 UFP와의 결합에 대한 열정을 표현하며, 전 세계 고객 기반에 대한 상호 혜택을 기대했습니다.
UFP Technologies, Inc. (Nasdaq: UFPT) a annoncé l'acquisition d'AQF Medical, un fabricant sur mesure de composants en mousse et thermoplastiques pour dispositifs médicaux et emballages. Cela marque la quatrième acquisition d'UFP ces derniers mois, élargissant leur plateforme MedTech et leur présence internationale. AQF Medical, dont le siège est à Navan, en Irlande, avec des opérations en coentreprise à Singapour, apporte une valeur stratégique aux opérations mondiales d'UFP.
R. Jeffrey Bailly, président et PDG d'UFP Technologies, a souligné les avantages de l'acquisition, y compris une présence manufacturière européenne élargie et un accès au marché asiatique. Les entreprises partagent des processus, des matériaux et des clients similaires, promettant des synergies et des opportunités de croissance. Seamus Fagan, directeur général d'AQF Medical, a exprimé son enthousiasme à rejoindre UFP, anticipant des bénéfices mutuels pour leur clientèle mondiale.
UFP Technologies, Inc. (Nasdaq: UFPT) hat die Übernahme von AQF Medical angekündigt, einem maßgeschneiderten Hersteller von Schaum- und Thermoplastkomponenten für medizinische Geräte und Verpackungen. Dies ist die vierte Übernahme von UFP in den letzten Monaten und erweitert ihre MedTech-Plattform sowie die internationale Präsenz. AQF Medical mit Sitz in Navan, Irland, und Joint-Venture-Operationen in Singapur bringt strategischen Wert für die globalen Aktivitäten von UFP.
R. Jeffrey Bailly, Vorsitzender und CEO von UFP Technologies, hob die Vorteile der Übernahme hervor, darunter eine erweiterte europäische Produktionspräsenz und Zugang zum asiatischen Markt. Die Unternehmen teilen ähnliche Prozesse, Materialien und Kunden, was Synergien und Wachstumsmöglichkeiten verspricht. Seamus Fagan, Geschäftsführer von AQF Medical, äußerte seine Begeisterung über den Beitritt zu UFP und erwarten gegenseitige Vorteile für ihre weltweite Kundenbasis.
- Acquisition expands UFP's MedTech platform and international presence
- Gains strategically located factory in Europe and access to Asian market through Singapore joint venture
- Synergies expected due to shared processes, materials, and clients
- Potential for new client acquisition in Europe and Asia
- None.
Insights
UFP Technologies' acquisition of AQF Medical marks a strategic expansion into the European and Asian markets, potentially boosting revenue and market share. This move addresses client demands for a European manufacturing presence and positions UFP to tap into the growing Asian MedTech sector. The acquisition, UFP's fourth in recent months, signals an aggressive growth strategy that could lead to increased economies of scale and enhanced operational efficiencies.
While financial details are not disclosed, the integration of AQF's expertise in foam and thermoplastic components could diversify UFP's product portfolio and strengthen its competitive position in the medical device and packaging sectors. Investors should monitor for potential synergies and any impact on UFP's profit margins in the coming quarters. The acquisition's success will depend on effective integration and leveraging of AQF's client relationships and manufacturing capabilities.
The acquisition of AQF Medical significantly enhances UFP Technologies' capabilities in the medical device and sterile packaging sectors. AQF's expertise in custom-engineered foam and thermoplastic components complements UFP's existing offerings, potentially leading to more comprehensive solutions for clients. This move could accelerate product development cycles and improve customization options for medical device manufacturers.
The expanded geographical presence in Europe and Asia is crucial, as it allows UFP to better serve global MedTech companies with localized production. This could lead to faster turnaround times and reduced shipping costs for clients. The joint venture in Singapore is particularly noteworthy, as it provides a foothold in the rapidly growing Asian medical device market. Overall, this acquisition positions UFP to capture a larger share of the global medical device components and packaging market.
UFP Technologies' acquisition of AQF Medical is a strategic move that aligns with the growing trend of consolidation in the medical device supply chain. This acquisition addresses the increasing demand for localized production in key markets, which is becoming important for medical device manufacturers seeking to optimize their supply chains and reduce geopolitical risks.
The expansion into Europe and Asia through AQF's facilities positions UFP to capitalize on the projected growth in these regions' medical device markets. According to recent market research, the European medical device market is expected to grow at a CAGR of
NEWBURYPORT, Mass., Aug. 26, 2024 (GLOBE NEWSWIRE) -- UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products, today announced the acquisition of AQF Limited (“AQF Medical”). Headquartered in Navan, Ireland with additional joint venture operations in Singapore, AQF Medical develops and manufactures custom-engineered foam and thermoplastic components used in a wide range of medical devices and packaging.
“We are excited about the addition of AQF Medical, our fourth acquisition in the past few months,” said R. Jeffrey Bailly, Chairman and CEO of UFP Technologies. “AQF Medical, with their excellent leadership team and strong reputation, brings significant value to our MedTech platform. Their expertise in converting specialty foams and films, and their strategically located factory for the MedTech market, give us the expanded European manufacturing presence our clients have requested and their joint venture facility in Singapore will enable us to support the Asian market locally.”
“We have a deep understanding of their processes and materials as our companies have served similar segments and applications for years,” continued Bailly. “In addition, we share numerous clients and their talented leadership team will be instrumental in continuing our international growth.”
“We are extremely pleased to join the UFP family and look forward to working together to create new opportunities that will be mutually beneficial to our worldwide client base,” said Seamus Fagan, Managing Director, AQF Medical. “UFP’s engineering capabilities will enhance our offering to existing customers, and we anticipate that our local knowledge will enable us to identify new clients in both Europe and Asia. We have long admired the UFP growth story, and we look forward to being an integral part of their ongoing journey.”
About UFP Technologies, Inc.
UFP Technologies is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products. UFP is an important link in the medical device supply chain and a valued outsource partner to most of the top medical device manufacturers in the world. The Company’s single-use and single-patient devices and components are used in a wide range of medical devices and packaging for minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants.
Forward Looking Statements
This press release contains statements relating to expected financial performance and/or future business prospects, events, and plans that are forward-looking statements. Such statements include but are not limited to: the anticipated effects on us of acquiring AQF Medical; anticipated trends in the different markets in which we compete and expectations regarding customer demand; expectations regarding our business opportunities; and statements about our growth potential and strategies for growth. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could adversely affect our business and prospects, and otherwise cause actual results to differ materially from those anticipated by such forward-looking statements, including the risks that the Company will not realize the anticipated benefits of the acquisition of AQF Medical due to the inability of the Company to execute its business strategy, AQF Medical integration strategy or otherwise as well as other risks and uncertainties that are detailed in the documents we file with the SEC. Accordingly, actual results may differ materially. Readers are referred to the documents we file with the SEC, specifically the last report on Form 10-K. The forward-looking statements contained herein speak only of our expectations as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based.
Contact: Ron Lataille
978-234-0926, rlataille@ufpt.com
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