Nordson Corporation , headquartered in Westlake, Ohio, has entered into an agreement to acquire Vention Medical’s Advanced Technologies (Vention AT) business, a leading designer, developer and manufacturer of minimally invasive interventional delivery devices, catheters and advanced components for the global medical technology market, for $705 million. The transaction is expected to conclude during Nordson’s second fiscal quarter.
Headquartered in Salem, New Hampshire, Vention Medical is a portfolio company of KRG Capital Partners, consists of the Advanced Technologies (Vention AT) business and a separate Device Manufacturing Services (Vention DMS) business, a contract manufacturing operation. Vention AT reported sales of $150 million and EBITDA of $48 million for the trailing twelve months ended January 31, 2017.
Michael F. Hilton, Nordson President and Chief Executive Officer, commented, “We are extremely pleased to add a high quality, differentiated market leader in minimally invasive delivery devices and components to Nordson’s existing medical platform. This acquisition aligns with the medical growth strategy we have consistently articulated, brings significant scale to what is already one of Nordson’s fastest growing businesses, and enhances strategically important capabilities including design and development, extrusion, complex medical tubing and balloon manufacturing, nitinol forming and other specialty material expertise. We see Vention AT as an ideal complement to our current offering of single-use fluid management components, biomaterial delivery devices, and high-end cannula and tubing, and we are excited to bring our combined capabilities to the many leading medical OEM customers we share.” Vention AT will operate as part of Nordson’s Advanced Technology Systems segment.
Nordson Corporation engineers manufacture and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing. The company has operations in nearly 40 countries.