September 1, 2020 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as exclusive financial advisor to GW Plastics (GW), a leading molding and contract manufacturing company serving the healthcare and automotive markets, on the sale of its business to Nolato.
With over 1,000 employees and seven manufacturing plants in the US, Mexico and China and Ireland, GW has established itself as an industry leader specializing in complex injection molded thermoplastic and silicone solutions with a significant degree of innovation and a high-tech standardized global manufacturing platform. Serving many of the world’s largest medical OEMs, GW has developed a very strong reputation in the medical community.
Nolato President and CEO Christer Wahlquist stated, “This acquisition provides us with significant volumes and a strong position on the key North American continent. It supports relationships with existing customers, while also creating additional opportunities for growth and expanding our customer base.”
“We believe Nolato aligns exceptionally well with GW Plastics’ business and culture, and together we’ll offer our customers the same stability, predictability, and engagement they have come to rely on,” said GW Plastics President and CEO Brenan Riehl.
According to Ben Dunn, Managing Director, Covington Associates, “This is a great combination of two companies with very similar cultures – each with a long history of serving some of the most demanding customers in the world. The combination of GW’s solid North American presence and global tool making capabilities with Nolato’s strong European base enables the combined company to more effectively serve its customers globally. “
About Covington Associates
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising and strategic advisory to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991 and based in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed over 250 transactions globally for both private and publicly traded companies totaling over $17 billion. Further information can be found at http://www.covingtonassociates.com/overview/.
About GW Plastics
Founded in 1955, GW Plastics has earned a reputation as an industry leader in precision tooling, injection molding, and contract manufacturing serving the world’s most successful companies in the healthcare, automotive safety-critical and filtration markets. Specializing in complex injection molded thermoplastic and silicone solutions, GW Plastics excels at close tolerance mold building, precision injection molding, and contract manufacturing. Headquartered in Bethel, Vermont, the company’s standardized ISO 9001, ISO 13485, ISO/TS 16949, and FDA-registered, 21 CFR Part 820 compliant manufacturing facilities are located in Bethel and Royalton, Vermont; Grantham, New Hampshire; San Antonio, Texas; Tucson, Arizona; Queretaro, Mexico; Dongguan, China; and Sligo, Ireland. GW is a Plastics News’ Processor of the Year and Sustained Excellence award winner. Further information can be found at https://www.gwplastics.com/.
Nolato is a Swedish group founded in 1938 with operations in Europe, Asia and North America. Nolato develops and manufactures products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato’s shares are listed on the Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector. Nolato has about 7,000 employees.