Sam Brusco, Associate Editor05.02.23
DuPont announced it began an agreement to acquire Spectrum Plastics Group from AEA Investors. The purchase price will be paid from existing cash balances.
The deal is expected to close by the end of Q3 2023.
Spectrum specializes in advanced manufacturing of specialty medical devices and components, serving 22 of the top 26 medical device OEMs with focus on therapeutic areas like structural heart, electrophysiology, surgical robotics, and cardiovascular.
Spectrum has over 2,200 employees and is aligned with DuPont’s objective of delivering innovative, specialized materials and solutions into attractive end markets.
"We have been focused on Spectrum for a long time and our team is extremely excited for this opportunity," Ed Breen, Executive Chairman and CEO of DuPont told the press. "Spectrum is a compelling strategic complement to our existing healthcare portfolio, which already includes businesses with best-in-class innovation, deep customer relationships and with strong growth and profitability. With this combination, we'll be able to offer customers additional innovation and manufacturing capabilities with a broader and more integrated solution set."
"Spectrum is a best-in-class company for the development and advanced manufacturing of specialty medical devices and components," added Rahul Goyal, a partner at AEA Investors. "Through investments in the commercial and engineering organizations and expansion of its manufacturing operations, Spectrum has enhanced its capabilities and offerings in medical end markets and achieved significant growth and increased profitability. We are proud to have supported Spectrum's transformation for the past five years and believe DuPont is an excellent partner for Spectrum. The combination is ideally positioned to continue providing excellent customer service and highly-engineered solutions for critical healthcare applications."
The deal is expected to close by the end of Q3 2023.
Spectrum specializes in advanced manufacturing of specialty medical devices and components, serving 22 of the top 26 medical device OEMs with focus on therapeutic areas like structural heart, electrophysiology, surgical robotics, and cardiovascular.
Spectrum has over 2,200 employees and is aligned with DuPont’s objective of delivering innovative, specialized materials and solutions into attractive end markets.
"We have been focused on Spectrum for a long time and our team is extremely excited for this opportunity," Ed Breen, Executive Chairman and CEO of DuPont told the press. "Spectrum is a compelling strategic complement to our existing healthcare portfolio, which already includes businesses with best-in-class innovation, deep customer relationships and with strong growth and profitability. With this combination, we'll be able to offer customers additional innovation and manufacturing capabilities with a broader and more integrated solution set."
"Spectrum is a best-in-class company for the development and advanced manufacturing of specialty medical devices and components," added Rahul Goyal, a partner at AEA Investors. "Through investments in the commercial and engineering organizations and expansion of its manufacturing operations, Spectrum has enhanced its capabilities and offerings in medical end markets and achieved significant growth and increased profitability. We are proud to have supported Spectrum's transformation for the past five years and believe DuPont is an excellent partner for Spectrum. The combination is ideally positioned to continue providing excellent customer service and highly-engineered solutions for critical healthcare applications."