Healthcare Devices makes plastic drug administration systems for the pharmaceutical industry. The company currently operates four manufacturing plants in the US and Europe and generates annual sales of around $265m.
Prescription Retail provides plastic vials and closures used by pharmacies in the US to deliver the exact count of pills to patients.
Montagu noted that it has extensive experience in the healthcare sector and its previous investments include BSN Medical, Euromedic, Sebia and Risdon Pharma.
Montagu’s head of France and Germany Sylvain Berger-Duquene said, “Healthcare Devices and Prescription Retail are both market leaders in attractive industries with defensive characteristics.
“We have been impressed by the development of the business in recent years and look forward to working with the management team to support their future growth plans.”
In January it was reported that Montagu was in advanced talks to buy Rexam’s healthcare packaging unit.
Last year Rexam Sun Capital bought Rexam’s personal and household care packaging business for $459m, while Silgan agreed a $250m deal to buy Rexam’s high-barrier food packaging arm.
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