EX-99.2
3
exhibit2.htm
EX-99.2
EX-99.2
Nordson Corporation
28601 Clemens Road
Westlake, Ohio 44145 USA
FOR RELEASE:
CONTACT:
Immediately
James R. Jaye
Director, Communications & Investor Relations
440.414.5639
Jim.Jaye@nordson.com
Nordson Corporation Expands Fluid Management Capabilities for Medical Markets with Agreement to
Acquire Avalon Laboratories
.
Avalon is a leading designer and manufacturer of highly-specialized, single-use
catheters and specialty medical tubing products for cardiology, pulmonology and related
applications
Westlake, Ohio, USA - August 4, 2014 -
Nordson Corporation
(Nasdaq: NDSN) has entered
into a definitive agreement to acquire Los Angeles, California based
Avalon Laboratories
Holding Corp.
, a leading designer and manufacturer of highly specialized catheters and medical
tubing products for cardiology, pulmonology and related applications.
"Avalon is a high performing growth company with best in class products that are highly
complementary to Nordson's existing lines of highly engineered, single-use plastic components
for fluid management in medical applications", said Michael F. Hilton, Nordson President and
CEO. "In line with our strategy of expanding in the growing global medical market, Avalon
brings Nordson another stream of high value recurring revenue and further reduces our exposure
to more cyclical end markets. The company has generated double digit compound annual growth
rates in revenue and EBITDA since 2008 through a combination of innovative products, unique
intellectual property, process know-how, strong customer relationships, and scalable low cost
manufacturing. We expect to build on the current strong performance of Avalon by leveraging
Nordson's scale, global footprint and continuous improvement competencies".
Founded in 1990, Avalon will operate as part of Nordson's Advanced Technology Systems segment.
The company employs approximately 400 employees at its headquarters in Los Angeles, California and
at an FDA and ISO 13485 registered manufacturing facility in Guaymas, Mexico. The company is
differentiated by its proprietary Polymer Solution Casting
TM
manufacturing technology
which allows the company to produce seamless one piece tubing of varying wall thicknesses and in
complex geometric designs. The technology also enables Avalon to embed specialized
customer-specific features within its tubing, including multiple lumen, kink resistance and
advanced imaging capabilities.
Avalon products are used in life-critical procedures during surgeries where they are inserted
directly into a patient's arteries or veins and most commonly connected to extracorporeal support
systems to maintain oxygen circulation and preserve life. While critical to the success of these
procedures, Avalon products typically are a small portion of total procedure costs. The company
serves leading blue-chip OEM customers within its current cardiology and pulmonology market
segments and has begun to expand its offerings into adjacent endovascular, bariatrics,
tracheostomy, endoscopy, non-vascular stent and ophthalmic market segments.
The $180 million purchase price, subject to adjustment as provided in the purchase agreement, is
expected to be financed with availability under existing credit facilities. The transaction is
expected to close within the next two weeks pending customary closing conditions. Nordson expects
the acquisition to be accretive to earnings in the first full year of operation. Additional
financial information will be provided following the closing of the transaction.
Nordson Corporation delivers precision technology solutions that help customers succeed worldwide.
The company engineers, manufactures and markets differentiated products and systems used for
precision dispensing of adhesives, coatings, sealants, biomaterials, fluids and other materials,
plastic extrusion and injection molding, electronics testing and inspecting, and surface
preparation, all supported by application expertise and direct global sales and service. Nordson
serves a wide variety of consumer non-durable, durable and technology end markets including
packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and
general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the
company has operations and support offices in more than 30 countries. Visit Nordson on the web at
http://www.nordson.com
,
@Nordson-Corp
, or
www.facebook.com/nordson
.
# # #

EX - 99 . 2 3 exhibit2 . htm EX - 99 . 2 EX - 99 . 2 Nordson Corporation 28601 Clemens Road Westlake , Ohio 44145 USA FOR RELEASE : CONTACT : Immediately James R . Jaye Director , Communications & Investor Relations 440 . 414 . 5639 Jim.Jaye@nordson.com Nordson Corporation Expands Fluid Management Capabilities for Medical Markets with Agreement to Acquire Avalon Laboratories . Avalon is a leading designer and manufacturer of highly - specialized , single - use catheters and specialty medical tubing products for cardiology , pulmonology and related applications Westlake , Ohio , USA - August 4 , 2014 - Nordson Corporation ( Nasdaq : NDSN ) has entered into a definitive agreement to acquire Los Angeles , California based Avalon Laboratories Holding Corp . , a leading designer and manufacturer of highly specialized catheters and medical tubing products for cardiology , pulmonology and related applications . " Avalon is a high performing growth company with best in class products that are highly complementary to Nordson 's existing lines of highly engineered , single - use plastic components for fluid management in medical applications " , said Michael F . Hilton , Nordson President and CEO . " In line with our strategy of expanding in the growing global medical market , Avalon brings Nordson another stream of high value recurring revenue and further reduces our exposure to more cyclical end markets . The company has generated double digit compound annual growth rates in revenue and EBITDA since 2008 through a combination of innovative products , unique intellectual property , process know - how , strong customer relationships , and scalable low cost manufacturing . We expect to build on the current strong performance of Avalon by leveraging Nordson 's scale , global footprint and continuous improvement competencies " . Founded in 1990 , Avalon will operate as part of Nordson 's Advanced Technology Systems segment . The company employs approximately 400 employees at its headquarters in Los Angeles , California and at an FDA and ISO 13485 registered manufacturing facility in Guaymas , Mexico . The company is differentiated by its proprietary Polymer Solution Casting TM manufacturing technology which allows the company to produce seamless one piece tubing of varying wall thicknesses and in complex geometric designs . The technology also enables Avalon to embed specialized customer - specific features within its tubing , including multiple lumen , kink resistance and advanced imaging capabilities . Avalon products are used in life - critical procedures during surgeries where they are inserted directly into a patient 's arteries or veins and most commonly connected to extracorporeal support systems to maintain oxygen circulation and preserve life . While critical to the success of these procedures , Avalon products typically are a small portion of total procedure costs . The company serves leading blue - chip OEM customers within its current cardiology and pulmonology market segments and has begun to expand its offerings into adjacent endo vascular , bariatrics , tracheostomy , endoscopy , non - vascular stent and ophthalmic market segments . The $ 180 million purchase price , subject to adjustment as provided in the purchase agreement , is expected to be financed with availability under existing credit facilities . The transaction is expected to close within the next two weeks pending customary closing conditions . Nordson expects the acquisition to be accretive to earnings in the first full year of operation . Additional financial information will be provided following the closing of the transaction . Nordson Corporation delivers precision technology solutions that help customers succeed worldwide . The company engineers , manufactures and markets differentiated products and systems used for precision dispensing of adhesives , coatings , sealants , biomaterials , fluids and other materials , plastic extrusion and injection molding , electronics testing and inspecting , and surface preparation , all supported by application expertise and direct global sales and service . Nordson serves a wide variety of consumer non - durable , durable and technology end markets including packaging , nonwovens , electronics , medical , appliances , energy , transportation , construction , and general product assembly and finishing . Founded in 1954 and headquartered in Westlake , Ohio , the company has operations and support offices in more than 30 countries . Visit Nordson on the web at http://www.nordson.com , @ Nordson - Corp , or www.facebook.com/nordson . # # #
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