DuPont (NYSE:DD) has a deal to buy medtech supplier Spectrum Plastics Group from private equity firm AEA Investors.
The $1.75 billion deal is expected to close by the end of Q3 2023, subject to regulatory approvals and other customary closing conditions.
Atlanta-based Spectrum has more than 2,200 employees and provides advanced manufacturing of specialty medical devices and components. The contract manufacturer says its customers include 22 of the top 26 medical device original equipment manufacturers, with a focus on structural heart, electrophysiology, surgical robotics and cardiovascular.
Spectrum has consistently grown at high single-digit rates, Dupont said. The company estimated that 10% of DuPont’s total revenue will come from healthcare after the deal.
“We have been focused on Spectrum for a long time and our team is extremely excited for this opportunity,” DuPont CEO and Executive Chair Ed Breen said in a news release. “Spectrum is …