Silicone tubing manufacturer, Silicone Altimex, has been acquired by a US private equity-backed group.
The Nottingham-based firm, which produces for the pharmaceutical industry, has been bought for an undisclosed sum by Qure Medical, part of Ohio-based Q Holding Company.
Silicone Altimex, was established in 1976 and manufactured tubing for domestic products.
Managing director Chris Baker said: “We are thrilled to join Qure Medical and I am confident that the next stage in our development will be a very exciting one.
“Qure Medical brings a host of new technologies and ideas that give us the opportunity to augment our current capabilities and better serve our customers to collaborate with them to provide improved engineered solutions.”
Randy Ross, president and chief executive of Qure, added: “This transaction is an important step in realizing our global ambitions.
“Silicone Altimex is a great fit with our business and we look forward to capitalising on the strengths of each organisation.
“The acquisition provides us with manufacturing facilities in Europe and will enable us to grow our overall capacity, especially in the attractive pharmaceutical and assembly business.”
The group employs about 1,200 staff, with five manufacturing plants in the US and two in China.
