2023-05-02 06:22:56 ET
- DuPont ( NYSE: DD ) said Tuesday it agreed to acquire Spectrum Plastics Group from AEA Investors for $1.75B in cash.
- Spectrum Plastics is a manufacturer of specialty medical devices and components, serving 22 of the 26 top medical device original equipment manufacturers with a focus on fast-growing therapeutics areas such as structural heart, electrophysiology, surgical robotics and cardiovascular.
- DuPont ( DD ) said it expects the deal will be immediately accretive to its adjusted earnings and achieve high single-digit return on investment capital by year five.
- DuPont ( DD ) said Spectrum Plastics will strengthen its position in fast-growing, low cyclicality healthcare markets; following the acquisition, ~10% of DuPont's ( DD ) consolidated revenue will come from healthcare.
- The company also reported Q1 adjusted earnings that beat Wall Street expectations .
For further details see:
DuPont to buy Spectrum Plastics in $1.75B deal