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UFP Technologies acquires AJR Enterprises for $110M

UFP Technologies announced the acquisition of AJR Enterprises, LLC. Headquartered in St. Charles, Illinois, with additional manufacturing in the Dominican Republic, AJR Enterprises develops and manufactures single use safe patient handling systems. UFP acquired AJR Enterprises, LLC for $110 million. AJR generated sales of approximately $70 million in 2023 and $75 million in the trailing 12-month period ended March 31, 2024. AJR generated adjusted earnings before interest, taxes, depreciation, and amortization of approximately $16.6 million in 2023 and $18.3 million in the trailing 12-month period ended March 31, 2024. The transaction was financed with borrowings under UFP’s amended and restated credit agreement.

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