UFP Technologies
Middle Branch Partners advise UFP Technologies during its acquisition of Advant Medical Molding
Situation Review
Middle Branch Partners sourced and advised our client UFP Technologies in a private, non-auction deal in its acquisition of Advant Medical Molding. UFP Technologies is a highly focused company with businesses in medical device packaging and early-stage development based in Newburyport, Massachusetts; Advant is based in Ireland with additional operations in Costa Rica and partner manufacturing in Mexico.
MBP was engaged by UFP Technologies to conduct a very tightly focused acquisition search project.
The strategic objective was to add a new geographic footprint while adding to global processes and products.
Transaction Process
The business was not initially marketed for sale but rather was developed through MBP's knowledge of and network in the medical device contract manufacturing sector.
MBP was instrumental in identifying the opportunity and providing early access to Advant’s ownership.
The company never went to market due to the relationship and trust built by MBP.
Results
UFP Technologies acquired 100% of Advant Medical Molding.
The transaction became the contract manufacturing platform UFP Technologies was seeking.
The result was also new commercial opportunities for UFP Technologies with European and Irish based medical OEMs.
“We are pleased to be joining forces with Advant, our third major acquisition in six months. It’s an excellent cultural and strategic fit that increases our value to our growing medical customer base in several ways. Advant brings us medical product development and clean room manufacturing in Ireland, a key strategic geography to which we annually ship millions of dollars’ worth of product. It also adds in-house injection molding expertise to our list of capabilities. And it brings new customer relationships, product development opportunities, and a veteran team of professionals to UFP.”