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NEWBURYPORT, Mass. - UFP Technologies, Inc. (NASDAQ:UFPT) announced Thursday it has acquired Universal Plastics & Engineering Company (UNIPEC) and Techno Plastics Industries (TPI) to strengthen its medical device manufacturing capabilities.
UNIPEC, based in Rockville, Maryland, specializes in precision thermoformed and heat-sealed polymer components used primarily for shielding batteries in Class III implantable medical devices. The company generates approximately $5 million in revenue and $2 million in EBITDA. These acquisitions align with UFP’s strong growth trajectory, which has seen revenue increase by 34.43% over the last twelve months.
TPI, located in Anasco, Puerto Rico, manufactures precision thermoplastic injection-molded components and brings in approximately $10 million in revenue and $1 million in EBITDA.
"Their expertise in tight tolerance molding of specialty EMI shielding materials adds further strength to our implantable device offerings," said R. Jeffrey Bailly, Chairman and CEO of UFP Technologies, regarding the UNIPEC acquisition.
The TPI facility’s location near UFP’s DAS business in the Dominican Republic provides strategic advantages for the company’s robotic assisted surgery drape solutions, which utilize injection molded components.
Both acquisitions were financed through available cash and borrowings under UFP’s existing credit facility, according to the company’s statement based on a press release.
UFP Technologies designs and manufactures solutions for medical devices, sterile packaging, and other engineered custom products. The company serves as a supplier to major medical device manufacturers, providing single-use and single-patient devices and components used in minimally invasive surgery, infection prevention, wound care, and orthopedic applications. With a healthy current ratio of 2.58 and strong cash flows, UFP maintains a solid financial foundation for growth. Discover more detailed insights and 8 additional key ProTips about UFP Technologies in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, UFP Technologies reported significant financial results for the first quarter of 2025. The company experienced a 41% surge in revenue, reaching $148.1 million, surpassing the projected $140.1 million. Additionally, UFP Technologies’ adjusted earnings per share (EPS) exceeded expectations, climbing to $2.47 compared to the forecasted $2.00. The company’s strong performance was largely driven by a 50.4% increase in sales within the medical market.
Furthermore, UFP Technologies held its Annual Meeting of Stockholders, where several corporate governance matters were addressed. Stockholders elected seven directors and approved the executive compensation package in a non-binding advisory vote. Additionally, they ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
Analyst firms have not issued any recent upgrades or downgrades for UFP Technologies, but the company’s earnings and strategic moves, including potential acquisitions, are expected to support continued growth. These developments underscore UFP Technologies’ robust start to the fiscal year and its strategic positioning in the medical technology sector.
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