Company Overview

PRIME exits and American HealthCare Capital is pleased to introduce a high-quality glove manufacturer for sale, focusing on the design, manufacturing, and distribution of nitrile and specialty gloves. This well-established company is a leader in the production of polymer products for hand protection and contamination control. They specialize in advanced polymers and manufacturing of Isolator/Dry Box Gloves, Medical Nitrile Exam Gloves, and Medical/Industrial/Cleanroom products. The company is located in the northeast and has been one of the top producers of Nitrile and Specialty Gloves in the United States for over 60 years.

Financial Overview

The nitrile glove manufacturer in the USA was awarded $70.5 million from the US Defense Production Act program to expand glove production capacity in the US. Upon the successful completion of the expansion, the Company will utilize 14 in-house production lines producing 1 billion gloves per year. This includes 4 high-speed lines with annual production of 800 million gloves per year plus 10 flexible lines with annual production of 250 million gloves per year. This will be housed in a 200,000-square-foot facility on 22 acres of land. The Company needs $40 million of funding as “finishing funds” for the facility (Phase 1) to augment the USG’s investment. This high level of volume with today’s automation will lower the cost significantly and be more competitive with offshore pricing. The Company has a robust sales pipeline including two LOIs in progress for up to 20% of the capacity with options for increased growth.

Staff Overview

There is a full complement of staff that is expected to stay on under new ownership. The owner is looking for a strategic or financial partner to add value through its connections, financial strength, and resources to grow the Company to the next level. Therefore, the owner will consider a majority equity sale while remaining with the Company for further growth opportunities.

Asking Price

The asking price for this specialty and nitrile glove manufacturer in the USA is to be determined based on the interests of the prospective investor plus the value of the Real Estate, with or without an Earnout Going Forward.