Schöttli, the Swiss based global leader in medical and closure mold making, announced that its shareholders have reached an agreement to sell the company to Husky Injection Molding Systems. The transaction is expected to close in early December.
The deal will allow Husky hot runner customers to benefit from product improvements based on strengthened knowledge, while existing Schöttli customers will have access to Husky's hot runner, controller and injection molding machine products. Schöttli's closures business complements Husky's existing closures business by providing additional technology and capacity in both established and growing markets.
Schöttli is a global leader in a number of select medical applications, such as syringes, infusion/transfusion products, diagnostic systems and feminine care items. Back in 2008, when the Swiss-based private equity advisor CGS acquired a majority stake in Schöttli AG, a buy and build strategy was implemented with add-on acquisitions in China and the United States. The subsequent integration and global organization fueled the company's considerable growth of market share and increased profitability. The focus on innovation led to the development of several new technologies, which will further support the growth path initiated over the recent years.
"Schöttli, supported by CGS, developed into a globally leading mold maker for medical applications and closures with a bright future ahead. I thank CEO Thomas Anderegg, the management team and the employees of Schöttli for the excellent work and wish them all the best for the future. We see Husky as the right organization to take Schöttli forward," said Martin Schöttli, member of the board of the Schöttli Group.
By bringing Husky and Schöttli together, the companies say that customers will benefit from an enhanced level of technical expertise to produce the highest quality parts, the additional capacity to increase speed to market and improved responsiveness delivered by the industry's largest global service and support network.
Thomas Anderegg, president and CEO of Schöttli: "By joining with Husky we are partnering with a like-minded industry leader to continue providing leading-edge technology, with the advantage of Husky's extensive sales and service network to better support our global customer base."
Following the close of this transaction, Schöttli's headquarters in Diessenhofen, Switzerland, as well as other facilities in San Dimas, California and Suzhou, China, will become part of Husky's global network of locations.