IK Partners acquires Plastiflex
IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund will, alongside management, acquire Plastiflex Group N.V. (“Plastiflex” or “the Company”) from 3d investors. Financial terms of the transaction are not disclosed.
Plastiflex is the market-leading global supplier of high-end customised tube system solutions for the healthcare, industrial and appliances markets. Operating seven manufacturing facilities and with a presence across four continents, the Company serves a long-standing and diversified base of blue-chip customers.
Under the ownership of 3d investors and through its technological innovation and state-of-the-art solutions, developed by its research and development functions, Plastiflex has been able to penetrate and acquire significant market share in the healthcare and industrial segment. IK’s partnership with Plastiflex is aimed at driving further above market organic growth in the healthcare segment with share of wallet gains at existing clients, new client acquisitions and expansion of its innovative product offering to increase the addressable market.
Plastiflex will continue to be led by Chief Executive Officer (“CEO”) Piet Gruwez and his team, who will also be reinvesting alongside IK.
Piet Gruwez, CEO of Plastiflex, commented: “We’re delighted to have IK’s support in continuing to deliver the very best solutions to customers who all operate with complex requirements and in markets benefitting from long-term growth trends, including healthcare and industrials.”
Sander van Vreumingen, Partner at IK and Advisor to the IK Small Cap III Fund added: “Plastiflex is a high potential business with a very interesting market positioning. We’re delighted to be partnering with the Company and its top-quality management team to further their growth ambitions, both organically and through strategic mergers and acquisitions.”
Completion of the transaction is subject to legal and regulatory approvals.
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