FIL International to purchase Contego Healthcare for £160m in cash
Will significantly expand packaging solutions capabilities of FIL
FIL International, a subsidiary of Filtrona, a UK-headquartered supplier of plastic, fibre and foam products, is to purchase Contego Healthcare from Maximus Holding II and Storey Evans for approximately £160m in cash.
Established in 1991, Contego Healthcare provides print, packaging and support services to the pharmaceutical and healthcare markets, supplying cartons, leaflets, foils and labels. It has a pan-European focus with 10 manufacturing sites in the UK, Italy, Germany, France and Ireland and more than 900 staff. Its head office is in Bagshot in the UK and its main manufacturing site is in Bradford.
Contego will operate as part of Filtrona’s Coated & Security Products (C&SP) Division, which includes Payne packaging solutions, Payne Security authentication and identity technologies and Duraco speciality tapes. It will retain its own identity within the C&SP division, and its strong management team is expected to continue to run the business.
Filtrona says the acquisition of Contego, which has a turnover of approximately £100m, is its largest acquisition to date and will significantly expand FIL’s packaging solutions capabilities, particularly in the high value pharmaceutical and healthcare sectors.
The deal should be finalised by the middle of April.
The acquisition of Contego underscores our ambition to be the premier provider of creative and secure packaging solutions
Filtrona says the addition of Contego to the C&SP Division will provide ‘an expanded and more focused platform from which to serve the attractive growth pharmaceutical and healthcare end-markets, as well as significant additional scale in Western Europe’.
Contego’s product portfolio also complements the existing capabilities of Payne, Payne Security and Duraco.
‘The acquisition of Contego underscores our ambition to be the premier provider of creative and secure packaging solutions to our customers and markets of choice,’ said Alison Evans, Managing Director – Coated & Security Products Division.
Gerard Harford, Contego’s UK Managing Director, added: ‘Both our businesses share a passion for delivering value adding innovation, quality and service to our customers, and we very much look forward to continuing our focus on developing our pharmaceutical and healthcare packaging solutions as part of Filtrona.’
