P&M Corporate Finance recently announced the sale of the privately held Plas-Pak Industries Inc. to Nordson Corp. Plas-Pak designs and manufactures injection molded, single-use plastic dispensing and packaging products.
“I selected Nordson as the next owner of Plas-Pak because I saw a strong cultural fit with both our customers and employees,” said Charlie Frey, president of Plas-Pak. “I believe Nordson will take good care of our customers and provide our employees additional opportunities for growth.”
“Plas-Pak’s recurring revenue model, proprietary technology, and low-dollar-cost, high-value-add selling proposition are highly complementary and consistent with our existing Nordson EFD product line,” said Jeff Pembroke, vice president for Nordson’s advanced technology systems segment. “Plas-Pak strengthens Nordson EFD’s position in select industrial end markets, while providing access to a rapidly growing animal health market and broader exposure to the DIY, pesticide, and dental markets. We expect to leverage Nordson’s global footprint to accelerate Plas-Pak’s growth beyond its current strong presence in North America. The transaction also aligns with our strategic objective of diversifying Nordson’s Advanced Technology segment through greater participation in less cyclical end markets.”