Welch Fluorocarbon, Inc. (“Welch Fluorocarbon”) has been acquired by UFP Technologies, Inc. (“UFP”). Welch Fluorocarbon specializes in providing thermoformed components to the medical device industry by utilizing thin, high-performance films. UFP Technologies, Inc. (Nasdaq: UFPT) is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products. This transaction is the successful culmination of an initiative led by Bigelow LLC.
Founded in 1985 and headquartered in Dover, New Hampshire, Welch Fluorocarbon develops and manufactures thermoformed and heat sealed implantable medical device components utilizing thin, high-performance films. Examples of end use applications include implantable medical device components for battery and capacitor insulation where heat resistance, chemical resistance or inertness is required. With medical devices getting smaller and smaller, space inside the devices is becoming tighter and tighter. Welch Fluorocarbon’s custom thermoformed components can deliver extremely thin walls down to approximately 1.0mil (.001”).
Seth Welch, Owner and Senior Technical Advisor commented, “We are so proud of what our team has accomplished over the past 30 years. Our business is facing unprecedented growth opportunities, and the time is right to join UFP. They understand our strategy, culture and have a successful track record of supporting family-owned, growing businesses like ours.”
“We are thrilled to have selected UFP as our new home. Having a partner that understands how to support our rapidly expanding business in our niche is critical. UFP has demonstrated that they understand our needs and have the capabilities, experience, and resources to help propel Welch to its fullest potential.” Kevin Wiley, Owner & Chief Executive Officer Welch Fluorocarbon, Inc.
UFP Technologies is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products. UFP is an important link in the medical device supply chain and a valued outsource partner to most of the top medical device manufacturers in the world. The Company’s single-use and single-patient devices and components are used in a wide range of medical devices and packaging for minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants.
“Welch Fluorocarbon will bring significant thin film thermoforming capabilities to our expanding MedTech portfolio of technologies and materials. Their expertise in developing and manufacturing components for implantable medical devices is an excellent complement to our existing thin film platform. UFP and Welch Fluorocarbon share many clients and together, our expanded product development and manufacturing capabilities will allow us to serve our clients in a more comprehensive way. Additionally, we are gaining a talented leadership team and overall, the Welch Fluorocarbon team is a very strong cultural fit.” R. Jeffrey Bailly, Chairman & Chief Executive Officer UFP Technologies, Inc.
Originally established in 1935, Bigelow LLC is widely known as the M+A Advisory Boutique that deals exclusively with private Entrepreneur Owner-Managers. Bigelow has a reputation for having a unique understanding of the special requirements of the owner-managed, entrepreneurial operating company in building and ultimately capturing Enterprise Value.