UFP Technologies, Inc. acquired AJR Enterprises, LLC for $110 million.
July 30, 2024
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UFP Technologies, Inc. (NasdaqCM:UFPT) acquired AJR Enterprises, LLC for $110 million on July 1, 2024. The transaction was financed with borrowings under UFP?s amended and restated credit agreement. The purchase price is subject to adjustment based upon AJR?s working capital at closing. $4 million of the purchase price is being held in escrow to indemnify the Company against certain claims, losses and liabilities. As part of the Securities Purchase Agreement, the Sellers as well as certain restricted parties have agreed to not compete with the Company for a period of seven years. Thomas Farrell of TCF Law Group, PLLC acted as legal advisor to UFP Technologies. AJR generated sales of approximately $75 million in the trailing 12-month period ended March 31, 2024. AJR generated adjusted EBITDA of approximately $18.3 million in the trailing 12-month period ended March 31, 2024.
UFP Technologies, Inc. (NasdaqCM:UFPT) acquired AJR Enterprises, LLC for $110 million on July 1, 2024.
UFP Technologies, Inc. is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other engineered custom products. The Company's single-use and single-patient devices and components are used in a range of medical devices and packaging for minimally invasive surgery, infection prevention, surfaces and support, wound care, wearables, orthopedic soft goods, and orthopedic implants. The Company is diversified by also providing engineered products and components to customers in the automotive, aerospace and defense, and industrial/other markets. Typical applications of its products include military uniform and gear components, automotive interior trim, air filtration, and protective cases and inserts. It also engineersâ components for automotive use, such as interior trim and structural applications. These components are produced using a compression molding process. It also develops and manufactures single-use safe patient handling systems.
UFP TECHNOLOGIES, INC. 
