Plastiflex Bolsters Position with Smooth-Bor and TIK Acquisitions
Deal News | Mar 12, 2025 | IK Investment Partners (IK Partners)
Plastiflex Group N.V., supported by IK Investment Partners, has made strategic acquisitions of Smooth-Bor Plastics and TIK d.o.o to enhance its leadership in healthcare tubing systems. These acquisitions are key to its expansion in the fast-growing respiratory care market and entry into the catheter manufacturing sector. Headquartered in Belgium, Plastiflex will integrate the new companies into its global network of 12 facilities, intensifying its focus on healthcare. Smooth-Bor, based in California, specializes in tubing for respiratory devices and will continue under the leadership of CEO Eric Carlson. TIK, operating from Slovenia, will continue under Managing Director Petra Borovinek, expanding Plastiflex's fluid management market in Europe. The company aims to double its sales in coming years, projecting €200 million in sales and €50 million in EBITDA by 2025 through these integrations and further acquisitions.
Sectors
- Healthcare Manufacturing
- Private Equity
Geography
- Belgium – Plastiflex Group is headquartered in Belgium, driving its strategic operations from there.
- USA – Smooth-Bor Plastics is based in California, contributing to Plastiflex's presence in North America.
- Slovenia – TIK d.o.o is headquartered in Slovenia, representing Plastiflex's European manufacturing capabilities.
Industry
- Healthcare Manufacturing – Plastiflex is involved in the production of tubing systems and components for healthcare applications, including respiratory care and catheters.
- Private Equity – IK Investment Partners, a private equity firm, is facilitating Plastiflex's expansion through strategic acquisitions.
Financials
- 200 million – Projected sales for Plastiflex Group by 2025.
- 50 million – Projected EBITDA for Plastiflex Group by 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Plastiflex Group N.V. | Acquirer | Company | Belgium-based manufacturer of high-end tubing systems and custom components. |
| IK Investment Partners | Private Equity Firm | Company | Private equity firm supporting Plastiflex's expansion strategy. |
| Smooth-Bor Plastics | Target Company | Company | California-based company specializing in tubing systems for respiratory care. |
| TIK d.o.o. | Target Company | Company | Slovenian manufacturer of disposable medical devices and tubing systems. |
| Piet Gruwez | CEO | Person | CEO of Plastiflex Group, overseeing the acquisitions. |
| Eric Carlson | CEO | Person | CEO of Smooth-Bor, continuing to lead under Plastiflex ownership. |
| Petra Borovinek | Managing Director | Person | Managing Director of TIK, continuing her leadership post-acquisition. |