As part of the Nolato Group's strategic expansion within medical technology and pharmaceuticals, Nolato has acquired the British company Cope Allman Jaycare. The company, which manufactures plastic pharmaceutical packaging, has annual sales of around SEK 270 million and 270 employees. Its customers include a number of major international pharmaceutical companies and the acquisition strengthens Nolato Medical's position on the global medical market.
Cope Allman Jaycare has a history within pharmaceutical packaging dating back to 1958, and is expected to record sales for 2012 of around SEK 270 million. It has plants located in both Portsmouth and Newcastle, in England.
Following the acquisition of the US company Contour Plastics, we have worked to add an acquisition in Western Europe. Cope Allman Jaycare is a well-managed company, and is a good fit for our growth strategy.
Nolato already has a strong position in the Scandinavian pharmaceutical packaging market. This acquisition strengthens our customer offer by allowing us to offer production and development resources locally in the UK, which is an extremely important part of the global medical market. It also enables existing Cope Allman Jaycare customers to take advantage of the total Nolato offering.
The company, which has now changed its name to Nolato Jaycare, is being acquired from its current management, which will remain with the business.
Following the acquisition, Nolato will continue to have a strong financial position, with an equity / assets ratio of approximately 47%.