ACCESSWIRE
07 Jun 2023, 15:31 GMT+10
BIRKENFELD, GERMANY / ACCESSWIRE / June 7, 2023 / STRATEC SE, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard, SDAX) has signed an agreement to acquire Natech Plastics, Inc. (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 Group 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 Group. 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 Group's already strong market position in smart consumables, particularly in cooperation with the leading 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 Group 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 Group, 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.'
ABOUT STRATEC
STRATEC SE ( www.stratec.com ) designs and manufactures fully automated analyzer systems for its partners in the fields of clinical diagnostics and life sciences. Furthermore, the company offers complex consumables for diagnostic and medical applications. For its analyzer systems and consumables, STRATEC covers the entire value chain - from development to design and production through to quality assurance.
The partners market the systems, software, and consumables in general together with their own reagents, as system solutions to laboratories, blood banks and research institutes around the world. STRATEC develops its products on the basis of patented technologies.
Shares in the company (ISIN: DE000STRA555) are traded in the Prime Standard segment of the Frankfurt Stock Exchange and are listed in the SDAX select index of the German Stock Exchange.
FURTHER INFORMATION IS AVAILABLE FROM:
STRATEC SE
Jan Keppeler | Investor Relations, Sustainability & Corporate Communications
Tel: +49 7082 7916-6515
ir@stratec.com
www.stratec.com
SOURCE: STRATEC SE
Get a daily dose of San Francisco Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Francisco Star.
More Information© Provided by Xinhua BEIJING, Sept. 21 (Xinhua) -- China's non-financial outbound direct investment (ODI) increased 18.8 percent year on ...
(Photo credit: Bob Frid-USA TODAY Sports) Both captains have acknowledged that the United States is the underdog entering this week's ...
© Provided by Xinhua Over the years, China has led by example by setting out clear carbon reduction goals and ...
© Provided by Xinhua Addressing the climate crisis is no longer optional. It is an immediate necessity.UNITED NATIONS, Sept. 21 ...
© Provided by Xinhua by Burak AkinciANKARA, Sept. 21 (Xinhua) -- Türkiye is extending its tourism season into the fall ...
(Photo credit: Jasen Vinlove-USA TODAY Sports) The Detroit Tigers named Jeff Greenberg as the franchise's 20th general manager on Thursday. ...
SEOUL, South Korea: Thousands of South Korean educators and school staff gathered in Seoul over the weekend to demand increased ...
WARSAW, Poland: As part of European Union (EU) sanctions imposed against Russia over its invasion of Ukraine, Poland banned all ...
MONTGOMERY, Alabama: Last week, Alabama's school chief, Superintendent Eric Mackey, said that under new reading benchmarks to move to fourth ...
WASHINGTON D.C.: Last week, the Federal Reserve said its losses surpassed the US$100 billion mark and will likely continue to ...
ARLINGTON, Virginia: This week, the U.S. State Department approved the potential sale of drone-related munitions and other systems to Canada ...
BETHESDA, Maryland: This week, the US National Institutes of Health (NIH) said that it started early-stage human trials on FluMos-v2, ...