In a EUR 20m deal that it says will not only strengthen its customer base but also widen its geographic reach, Swedish injection moulder Nolato (Torekov; www.nolato.se) has acquired UK pharmaceutical packaging producer Cope Allman Jaycare (Portsmouth; www.jaycare.com). In addition to the initial purchase price, the takeover also includes a deferred consideration based on earnings up to Q1 2014. As part of the agreement, Jaycare was consolidated on 1 April, with its current management remaining in place.

Commenting on the purchase, Nolato CEO Hans Porat said that, “Following the acquisition of the US company Contour Plastics, we have worked to add an acquisition in western Europe” – for more details, see also Plasteurope.com of 28.07.2010. The Swedish group already had upped the ante in Europe last year, when it expanded its Hungarian facility – see Plasteurope.com of 07.11.2011. As a result of the Jaycare acquisition, Nolato now has a local presence in the UK.

Cope Allman Jaycare operates two plants in Portsmouth and Newcastle and has a workforce of 270 employees. The group expects to post 2012 sales of about EUR 30m, with a pro-forma EBIDTA margin of about 14%. Its product portfolio includes containers, closures and other pharmaceutical devices such as pumps, nozzles and applicators.