InterCapital, Mergers Alliance’s partner in Croatia and Slovenia, advised TIK, a leading manufacturer of disposable medical devices, specializing in coated urethral catheters and follicle aspiration needles based in Slovenia, on its sale to Plastiflex Group. Plastiflex Group is a Belgium based company and one of the world’s leading suppliers of components and customised tubing systems for customers in the medical and industrial technology sectors.
The TIK production facility will continue their production at the current production site in Kobarid and the Kobarid site will be the centre of excellence for the development of urethral catheters within the Plastiflex Group.
As a result of the partnership with TIK, the combined entity will further extend their product portfolio in the fluid management market space and will be able to offer additional clean room production capacity in Europe, in line with the group’s operational strategy of regional self-sufficiency.
The Plastiflex Group will now have 12 manufacturing facilities across the world with 7 dedicated health care operations in North America (USA and Mexico), EMEA (Germany, Slovenia and Turkey) and Asia (China and Malaysia).
The existing TIK leadership team, guided by Mrs Petra Borovinšek, Managing Director of TIK, remains in place.
Piet Gruwez, CEO of Plastiflex, commented: “We are very excited about TIK joining the Plastiflex Group. We are happy to reinforce our fluid management business by partnering with TIK that offers a state-of-the-art production facility and by adding urology as a new end-market within our fluid management health care vertical.”
Petra Borovinšek, Managing Director of TIK added: “We are very happy about the further development of TIK within this strategic partnership with the Plastiflex Group and we are convinced that, together, we will be able to offer a further enhanced product portfolio to our customers across the world.”
Marjan Batagelj, owner of Batagel&co.: “The decision to join the Plastiflex group N.V. is certainly the only rational and good one from a development and global breakthrough point of view. It will make TIK stronger, commercially stable and part of the global currents in the sector of medical devices producers.”
