October 27, 2021
Industrials and Industrial Technology
GCA Altium advises the shareholders of Plastiflex on the sale to IK Partners
GCA Altium acted as exclusive financial advisor to 3d Investors and the management team of Plastiflex, a leading manufacturer of high-end hose system solutions, on the sale of the company to IK Partners.
Plastiflex, headquartered in Beringen, Belgium, is a specialised producer of high-end hose system solutions for the healthcare, industrial and appliances markets. Founded in 1953 in California, the company is an inventor of a novel spiral winding process in order to manufacture flexible hose system solutions.
3d Investors acquired Plastiflex in 1998 and has successfully transformed the company into a diversified manufacturer with a global production footprint. In recent years Plastiflex has entered the respiratory care market and has since become a well-respected medical device manufacturer, serving renowned OEMs within sleep apnoea and ventilation niches. Today, Plastiflex operates seven manufacturing facilities across Spain, Slovakia, Netherlands, United States, Mexico and China, two R&D centres in Belgium and China, and employs 1,000 people, generating close to EUR 100m in revenues.
Hans Swinnen, Partner at 3d Investors, said: “I would like to thank the GCA Altium team for the level of commitment and professionalism they have shown throughout the process, which led to a great outcome for 3d Investors. Plastiflex has been an integral part of our portfolio for 25 years, during which we witnessed a structural transformation of the company into a medical device supplier. We are convinced that the management, together with IK Partners, will continue to realise sustainable profitable growth in coming years.”
Piet Gruwez, CEO of Plastiflex, added: “3d Investors has actively supported us for many years and strongly helped us to achieve exponential growth within the healthcare sector recently. We are very grateful for the good cooperation with 3d Investors as well as for the hard work of all our employees and the long-standing trust of our customers and suppliers. Together with IK Partners, we are now enthusiastically embarking on a new chapter in the unique growth story of Plastiflex.”
The financial terms of the transaction have not been disclosed and the transaction remains subject to approval from the relevant competition authorities.