3d investors sells Plastiflex to IK Partners27 october 2021
3d investors is proud to announce that after 25 years of ownership, it is selling Plastiflex to IK Partners. Plastiflex produces plastic hose system solutions used in healthcare, industrial and appliances applications (floor care, swimming pools and white goods). The investment in Plastiflex was a perfect example of 3d investors’ investment philosophy as a long-term shareholder and dedicated partner. Plastiflex successfully reinvented itself since 2010 with a focus on the medical sector. This “blue ocean innovation” helped achieve strong growth. Together, the management and the new shareholder, IK Partners, will focus further on strengthening the market position in healthcare and industrial through continuous product innovation.
Plastiflex, founded in 1953 in California, developed a novel technology to spiral wounding plastic hoses. This quickly positioned the company in its markets as the hose innovator. Nowadays, Plastiflex is operating in 3 key markets: healthcare, industrial applications and appliances such as for floor care, swimming pools and white goods. In 1998, 3d Investors took over the company and since the beginning of its investment positioned itself as a dedicated long-term shareholder and solid strategic partner. This contributed to the international expansion and the opening of several factories in the USA, Europe, and Asia. It is a long-term supplier of a diversified base of blue-chip OEMS such as Miele, Electrolux, Fluidra, Kärcher, Dräger, Hamilton Medical. It developed a new state-of-the-art innovation and R&D center in Belgium and strong R&D capabilities in China. Passion for innovation has been the key driver during its ownership. In 2010 the company started developing, based on a unique technology, heated tubes for the respiratory healthcare market. With a clear focus on improving the breathing comfort of patients, who are using ventilators in intensive care units or for sleep apnea treatment. Plastiflex became a well-respected medical device manufacturer.
Hans Swinnen, Partner at 3d investors clarifies: “Our journey together with Plastiflex has been fascinating. The sector of plastic hoses changed enormously over the past 25 years. We have witnessed changing and expanding markets and we actively participated in growth opportunities in the medical industry. Our investment in Plastiflex is a clear demonstration of our core values. We are dedicated, we have patience, and we believe in the innovative potential of the unique companies we invest in. For Plastiflex this was the transformation from producing vacuum cleaner hoses to becoming a medical device supplier. We are convinced that the management, together with IK Partners, will continue to realise sustainable profitable growth.”
Piet Gruwez, CEO Plastiflex, explains: “3d investors has actively supported us for many years and strongly helped us to achieve exponential growth in the health care sector in recent years. We are very grateful for the good cooperation with 3d investors as well as for the hard work of all our employees and, of course, for the long-standing trust of our customers and suppliers. Together with IK Partners, we are now enthusiastically embarking on a new chapter in the unique growth story of Plastiflex.”
*3d Investors and Plastiflex were advised by GCA Altium (M&A), Four & Five (Legal) Roland Berger (Commercial), EY (Financial and Tax) and ERM (ESG)
About 3d investors
3d investors is a long term family owned investment company that chooses to support the growth of solid companies, in partnership with entrepreneurs and management. Built on a proud tradition of entrepreneurship, we choose to support solid companies with growth potential. In doing so, we start from our core values: entrepreneurship, empathy, integrity, passion and agility. 3d investors is a long-term shareholder in a number of listed groups (KBC, Ackermans & van Haaren, Atenor and Barco), non-listed companies (including Care Cosmetics, DSIT, Pauwels Consulting, Studio 100, 3P and Zenitel) and 3d Real Estate.
Plastiflex Group is specialized in the production of plastic flexible tubes and injection molded components for a number of markets such as Floor care, White Goods, Pool, Industry and Health Care. The Health Care customers are both distributors and OEM’s who use the tubes for their ventilation or sleeping quality improvement devices. Plastiflex group is one of the world biggest producers of plastic flexible tubes and hoses with headquarters in Belgium and production facilities in China, Europe, Mexico and USA. It employs around 1000 people worldwide. The yearly turnover is close to 100 million EUR.
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