- The new entity is formed via the combination of Formula Plastics, Kabo, Luc & Bel and ModenPlast
- Arterex has approximately €100 million in sales and it aims to serve the specialised needs of global and regional OEMs
- The company operates through four manufacturing facilities in three continents and employs over 800 people
Investindustrial announced on Thursday the formation of Arterex, a global provider of diversified manufacturing services to the medical device, healthcare and life-sciences industries. Investindustrial Growth III SCSp has signed multiple agreements to create the group through the acquisitions of Formula Plastics, Kabo, Luc & Bel and ModenPlast.
Arterex has approximately €100 million in sales and has been established to serve the specialised needs of global and regional original equipment manufacturers (OEMs). The group operates through four manufacturing facilities in three continents and has more than 800 employees. The combination of Formula Plastics, Kabo, Luc & Bel, and ModenPlast is the first step of an “ambitious” international build-up plan, according to Investindustrial.
Formula Plastics is a supplier of high-quality plastic injection moulded components based in Newton Aycliffe, England. Kabo, headquartered in Traversetolo, Italy, is a producer of medical bags, plastisol caps and single use medical devices for OEMs. Luc & Bel also produces medical products for OEMs and is headquartered in Carpi, Italy. Finally, ModenPlast is another Italian company that specialises in the production of PVC compounds of variable hardness, as well as extruding lay-flat tubing in PVC and EVA for the production of medical bags. ModenPlast is headquartered in Ubersetto.
Investindustrial is a London-based group of independently managed investment, holding and advisory companies with over €11 billion of raised fund capital. The firm was founded in 1990 and looks to take controlling positions in predominantly Southern European medium-sized businesses.
The firm has invested in several Italian companies. In September, Investindustrial announced the acquisition of Italian marketplace chain Eataly.