PE-backed Phillips Plastics will acquire Medisize Corp. from Ratos AB and other shareholders. Medisize is a European outsourcer of manufacturing and design services for healthcare companies. White & Case Oy served as local counsel in Finland. Ropes & Gray represented Phillips Plastics Corporation and its parent company, private equity firm Kohlberg & Company. Specifics of the transaction were not publicized.
Phillips Acquires European-based Medisize
Hudson, Wis., July 8, 2011, Phillips Plastics Corporation (“Phillips”) announced today that it
has entered into a definitive purchase and sale agreement to acquire Medisize Corporation
(“Medisize”) from Ratos AB and the other shareholders of Medisize. Medisize is a Europeanbased
outsource provider of design and manufacturing services to pharmaceutical, diagnostic
and medical device companies.
This transaction will enhance Phillips’ fast-growing medical business by increasing its European
footprint and broadening its manufacturing capabilities. With combined revenues of just under $500
million, Phillips will become one of the medical industry’s largest and most complete global providers
of outsourced medical design and manufacturing services.
Phillips President and CEO Matt Jennings commented, “Medisize has a world-class management
team and European footprint, with demonstrated capabilities in high-volume manufacturing and highspeed
automation that will strengthen Phillips’ service offering and global reach. This is a very
positive development for each company’s customers, suppliers, and employees.”
Coming Together to Serve Customers Even Better
“We are excited to be bringing together two long-standing leaders in OEM manufacturing for the
healthcare market with more than 30 years of experience in meeting our customers’ needs,” said
Medisize CEO Willem van den Bruinhorst. “By combining our strengths, we are not only creating an
industry leading portfolio of expertise and services, we will be combining our technologies to provide
a wider range of capabilities to our global customer base.”
Willem van den Bruinhorst will continue as President of Medisize reporting directly to Phillips
President and CEO, Matt Jennings.
The acquisition is subject to regulatory approvals and other customary closing conditions and is
expected to be completed by the end of August 2011. Ropes & Gray LLP acted as legal advisor to
Phillips, with White & Case Oy serving as local counsel in Finland.
About Phillips Plastics
Phillips Plastics Corporation (“Phillips”) is a leading outsource provider of design and manufacturing services to the
commercial and medical device and drug delivery markets. The company employs 1,400 people in 14 locations throughout
the United States, Europe and China, including design centers in Wisconsin and California. Phillips provides complete
services from concept design, rapid prototyping, and tooling through production, assembly, packaging and distribution of
both components and finished devices. The company features a broad range of technology capabilities including multi-shot
silicon molding, metal, magnesium, and ceramic injection molding for the medical, automotive, defense, and various
commercial markets. For more information visit www.phillipsplastics.com
About Medisize Corporation
About 850 experts at Medisize have shaped the professional accomplishments of Medisize Corporation in its five production
locations in Finland (headquarters), the Irish Republic, The Netherlands, Switzerland, and in the Czech Republic for over 30
years. Drive and innovation are the hallmarks of this organisation, a market-leading development and production partner in
the healthcare sector. Appreciated in many countries, the reputation of the corporation is founded on proven expert
knowledge in the areas product development, in-house tool making, plastics processing, assembly and packaging. Medisize
is a reliable partner for a number of customer specific products in the area of Drug Delivery Devices, Primary
Pharmaceutical Packaging, Medical and Diagnostic Devices and Airway Management.