NEWS


Medbio has new investor


Medbio of Grand Rapids, Michigan, in the US, has received what it calls a “substantial investment” from Graham Partners, a private equity firm in Philadelphia. The amount was not disclosed but Medbio said that this will allow it “to meet its very strong growth objectives, and ensure we continue to build momentum as we expand”. Chris Williams will remain as president and CEO. Medbio is a medical


contract manufacturer, specialising in clean room injection moulding, assembly, and packaging, with clients in the US, Europe and Central America. It is currently making products for OEMs in the orthopaedic, cardiovascular, ophthal- mology, neurology and biotechnology sectors. � www.medbioinc.com


Ningbo Jifeng increases stake in Grammer


Ningbo Jifeng, a Chinese automotive supplier, has increased its stake in Grammer, (which is head- quartered in Amberg Germany, and active in the same field), from 25.56% to 74.02%. This followed a tender to shareholders that Grammer’s board has approved. The acquired stake may increase further in an ongoing process that will be completed by the end of Q3. The two companies have


had a strategic partnership since February 2017. According to Grammer, the tender, which was agreed in May via Jiye Auto Parts and launched in June, is also linked to “a far-reaching business combination agreement guaranteeing jobs, facilities, expertise and brand names of Grammer Group over the coming years and securing the company’s independence


Grammer makes seating for commercial vehicles


Molding & Die, which will allow us to harness the growth potential that this region will continue to offer in the future.” Grammer has also


reported that its sales increased year-on- year by 2.2% to


€927.6m in the first half of 2018, despite a


relatively tough Q1. The


and growth strategy”. CEO Hartmut Müller said:


“After a successful transac- tion, Ningbo Jifeng will be our anchor investor, acting as an important partner for Grammer’s future activities in the Asian market. At the same time, we will be able to substantially reinforce our market position in North America with the acquisition of US automotive compo- nent supplier Toledo


Commercial Vehicles division — which makes seats for trucks, off-road vehicles, trains and buses — performed well throughout, while the smaller Automo- tive division — which makes headrests, armrests, centre console system, and interior components and operating systems for high-end OEMs and automotive system suppliers — saw a strong recovery. The performance was strongest in Europe and Asia-Pacific, while sales in the Americas fell by 6%. � www.grammer.com


Keter Group buys Adams Manufacturing


Keter Group of Herzliya, Israel, has agreed to acquire Adams Manufacturing, a maker of resin-based garden furniture in Porters- ville, Pennsylvania, US,


from its founder, William E Adams III, and his family. Terms are not being disclosed. The deal is being backed by BC Partners of London, the private equity


Adams moulds garden furniture in the US


4 INJECTION WORLD | September 2018


owner of Keter, which claims to be one of the world’s largest manufacturers of resin-based household and garden consumer products Adams’ shareholders will


re-invest a material portion of the transaction proceeds into a stake in Keter but there are no immediate plans to merge the two firms and Adams will continue to be led by CEO Tom Lombardo. However, said Jean-Baptiste Wautier, managing partner at


BC Partners, “we would expect to leverage our respective strengths, intensify product innovation and enhance our relationships with the most reputable retailers in North America”. Adams joins other product


brands in the Keter Group that include Allibert Outdoor (garden furniture), Allibert Home (homewares), Curver (homewares) and Hovac (insulating flasks and mugs). � www.keter.com


www.injectionworld.com


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