Mergers & acquisitions · Completed deal · Buy-side advisory

JBT acquires D&M Plastics: French medical injection moulding gains a US foothold

How the family-owned group from the Jura, a specialist in high-precision plastic injection moulding for healthcare, acquired the Illinois moulder — the need, the approach, the stakes and the macroeconomic reading of a transatlantic acquisition that gives this contract manufacturer to pharmaceutical companies its US industrial base, now JBT USA.

80%
of the target's revenue generated in healthcare
1972
D&M Plastics founded in Burlington, Illinois
5,000 m²
of production space, set to expand
2025
deal announced on 18 July
The acquirer

Groupe JBT, high-precision medical injection moulding

Founded in 1963 in Molinges, in the Jura — at the heart of France's Plastics Vallée — Groupe JBT is a family-owned group specialising in the design and manufacture of high-precision injection-moulded plastic parts and medical devices for the healthcare industry. Chaired by Maryse Eyssautier and run by Philippe Cadot, the unlisted group — backed by the GEI fund and Bpifrance Investissement as shareholders — operates seven sites with ISO 7 and ISO 8 cleanrooms in France, Hungary, Mexico and Tunisia, and brings together seven complementary companies within JBT Hub Up, whose multidisciplinary R&D team numbers 245 engineers and technicians. Its strategy is that of a leading contract manufacturer for CDMOs and global pharmaceutical companies: a fully integrated value chain — from mould making to final assembly — extended through acquisitions, from Boursier-Sogreg in 2022 to this US deal, with a long-stated ambition of reaching EUR 100 million in revenue.

ISO 7-8 CLEANROOM MOULDS & MATERIALS INTEGRATED MANUFACTURING HIGH-PRECISION INJECTION MOULDING 30+ PRESSES · VALIDATED PROCESSES MEDICAL DEVICES ISO 9001 · ISO 13485
The target's core know-how: moulding in a cleanroom the parts that healthcare certifies
JBT Groupe JBT High-precision medical injection moulding — Molinges, Jura (1963) groupejbt.com
DM D&M Plastics Injection moulding for healthcare — Burlington, Illinois (1972) dmplastics.com
The seller

D&M Plastics, the Illinois moulder dedicated to healthcare

Based in Burlington, Illinois, D&M Plastics has been a recognised player in plastic injection moulding since 1972 — more than fifty years in the trade, serving mainly the healthcare industry. Its published figures describe a specialist: over 80% of revenue generated in healthcare, ISO 9001 and ISO 13485 certifications, more than thirty injection presses, an ISO Class 8 cleanroom and over 5,000 m² of production space — which the acquirer's investment is set to expand. Continuity has a face: the site carries on as JBT USA under its director Marti Tremonti — who publicly welcomed teams embraced as an integral part of the JBT family — while former owner-manager Chip Owen describes the acquirer as the ideal partner to take the business to the next level.

Deal visibility

What the press said

The deal, announced on 18 July 2025, is documented in the parties' press release and was covered by the trade press on both sides of the Atlantic:

Press release · Groupe JBT, via the GEI fund18 July 2025 JBT renforce sa présence mondiale avec l'acquisition de D&M Plastics (French)

The official release, published with a downloadable document by the group's shareholder fund, covers the deal end to end: the target's profile — fifty years of injection moulding, ISO 9001 and 13485 certifications, over 80% of revenue in healthcare, 5,000 m² set to expand — statements from the three executives involved, the support of shareholders GEI and Bpifrance Investissement in the transaction, and full transparency on the parties involved, with advisers on both sides named.

DeviceMed · the magazine for medical device manufacturers2025 Le groupe JBT renforce sa présence mondiale avec l'acquisition de l'Américain D&M Plastics (French)

The French medical device trade press places the deal in the trajectory of the Jura-based plastics processor: seven sites with ISO 7 and ISO 8 cleanrooms, a fully integrated value chain and an international footprint — Mexico, Tunisia, Hungary and now the United States — serving major healthcare players as a contract manufacturer. The article highlights the role of the buyout, arranged with the help of the GEI fund and Bpifrance Investissement, in the forthcoming expansion of the Illinois site.

PlasticsToday · US plastics trade pressJuly 2025 French Medtech Molding Connection for D&M Plastics

The leading US plastics publication tells the story from the target market's point of view: the family-owned Illinois moulder — founded in 1972, more than thirty presses, a Class 8 cleanroom — will now operate as JBT USA, and the acquisition will allow the French group to serve its North American customers locally, notably for Class 7 cleanroom production needs. With this US footprint, the group operates seven Class 7 and Class 8 cleanrooms worldwide.

Deal rationale

Why this acquisition, and why this target

For Groupe JBT, the aim is to serve customers where they produce: CDMOs and global pharmaceutical companies expect their strategic suppliers to offer a local, agile and secure presence — and North America, the world's largest healthcare market, was missing from an industrial footprint that already covered Europe, North Africa and Mexico. "JBT is strengthening its ability to offer local, agile and reliable industrial solutions," explains CEO Philippe Cadot (translated from French) — to support North American customers' projects, particularly in ISO 7 cleanrooms. The acquisition reshapes the group's map: an operational US base, immediately renamed JBT USA, set to grow through the announced investment.

JBT USA 7 CLEANROOMS GROUPE JBT · JURA 30+ PRESSES · ILLINOIS D&M PLASTICS CDMOs & GLOBAL PHARMACEUTICAL COMPANIES
The strategic aim: connecting the group's integrated value chain to the Illinois moulder's qualified US site

On the target side, D&M Plastics had exactly the profile of an ideal entry site: a specialist — over 80% of revenue in healthcare, where so many moulders spread their mix — qualifications worth years of customer audits — ISO 9001 and ISO 13485, the baseline certification for medical devices — a proven set-up of more than thirty presses with a Class 8 cleanroom, and fifty years of family history in Burlington that speak to stable teams and customers. Former owner-manager Chip Owen publicly summed up the fit: as discussions progressed, the acquirer emerged as the partner able to take the business to the next level — customers and teams in good hands, with the expansion investment as a pledge.

Macroeconomic reading

Medical plastics manufacturing is consolidating on both sides of the Atlantic

This deal illustrates the reshaping of healthcare contract manufacturing: under pressure from rising regulatory and quality requirements, pharmaceutical customers and CDMOs are streamlining their supplier panels around certified, integrated partners located near their production hubs — the local-for-local approach to securing supply chains, which has become doctrine since the health and logistics disruptions. At the same time, the US base of family-owned moulders founded in the 1970s is reaching succession time: for European healthcare plastics processors building global platforms, these certified, specialised and well-run businesses are the natural gateways to the world's largest healthcare market.

The deal also tells a distinctive French story: that of a family group from the Jura's Plastics Vallée — the area that turned plastic injection moulding into a world-class speciality — which, through successive acquisitions and with the support of its financial shareholders GEI and Bpifrance Investissement, has become a leading contract manufacturer for pharmaceutical companies on four continents. After Boursier-Sogreg in the French Basque Country in 2022, the move into the US extends the stated ambition of EUR 100 million in revenue; for the Burlington teams, the deal anchors fifty years of know-how in an industrial project that invests, expands and preserves — the site, its industrial family name now JBT USA, and its director.

MOLINGES · JURA GROUPE JBT BURLINGTON · ILLINOIS D&M PLASTICS · JBT USA 2025 ACQUISITION ATLANTIC
A transatlantic acquisition: the Jura's Plastics Vallée sets up in Illinois
The adviser's role

Collaboration Capital's added value as buy-side adviser on this deal

On this deal, Collaboration Capital acted as buy-side adviser. A US acquisition in medical plastics manufacturing plays out in four stages — and the sector's demanding standards, where every process is validated and every supplier audited, govern each of them.

I

A clear understanding of the mandate

Scoping starts from how the trade is specified: in healthcare contract manufacturing, CDMOs and pharmaceutical companies qualify their moulders — through quality audits, against ISO 13485, process by process — and this qualification, slow to obtain, does not transfer from one site to another. Setting up in North America therefore required an already-qualified site, not a greenfield one: a certified, healthcare-focused company with cleanrooms and an established customer base, able to deliver the group's promise — local, agile and reliable solutions — to North American customers from day one.

II

Sourcing and assessing targets

The US injection-moulding mid-market counts hundreds of family-owned moulders founded in the 1970s — and industry classifications lump them all together, from general technical-parts makers to medical device specialists. The real filters lie elsewhere: the share of revenue generated in healthcare — here over 80% — ISO 13485 certification and the customer audit history, cleanroom class, the depth of the press fleet — more than thirty presses — customer stability and, a decisive criterion in this market, the succession situation: the shareholders' age and whether a family successor exists, which is what makes a well-run business accessible.

Off-market channel

Off-market deal sourcing

Collaboration Capital's technological edge lies in how it identifies targets: semantic clustering and machine-learning algorithms rather than sector and administrative classifications. Official activity codes put companies into boxes that cannot answer an acquirer's overall objective — they ignore the actual business, the distribution model, the customer profile and the business model. Semantic analysis reads what companies really do and maps those that match the acquisition thesis in every dimension, including — above all — those that are not for sale. In this deal's market, this is what singles out, among hundreds of administratively identical moulders, those whose customers, certifications and cleanrooms make them genuine healthcare sites.

On-market channel

On-market deal sourcing

The same infrastructure applies to the visible market: the technology extracts the acquisitions and disposals completed in the client's target sector — and, above all, identifies the dealmakers who ran them: lawyers, auditors, lending banks and investment funds, assessing how specialised each one is in the sector concerned.

Collaboration Capital thus identifies the dealmakers genuinely active in the target sector, finds their business contact details — emails and phone numbers — and reaches out to present the client's acquisition project. This is how the on-market channel is fed: it gives the client access to the businesses for sale circulating on the market, when they circulate, through the people who circulate them — including across the Atlantic, where the sale of family-owned moulders is actively brokered.

Combined, these two channels raise the game in deal sourcing: Collaboration Capital's technology infrastructure becomes a genuine game changer for acquisition projects. It is designed for ambitious companies that want to build their external growth on this high-level infrastructure.

III

Direct approach and introductions

Approaching a US owner-manager on behalf of a family group from the Jura means turning culture into an argument: two family businesses in the same trade, the same obsession with industrial excellence, and a project — not consolidating to rationalise, but investing to expand. Published statements show that the fit was built as discussions progressed: the former owner-manager calling the acquirer the ideal partner and expressing confidence in the future of both customers and teams; the site director describing teams welcomed as an integral part of the JBT family. In a US business succession, this conviction on the seller's side is the asset the approach must build — before any figure.

IV

Negotiation through to closing

Structuring an acquisition in medical devices focuses due diligence on regulated matters: the validity of ISO 9001 and 13485 certifications and the customer audit history, process and cleanroom validation, the transferability of healthcare contracts — where any change of control can trigger requalification — the condition of the press fleet and the compliance of the site set to expand. Continuity was built into the deal structure — the site renamed JBT USA, its director retained — and the deal relied on a published shareholder line-up, with the GEI fund and Bpifrance Investissement backing the transaction, and the transparency of a press release naming even the advisers on both sides — the discipline of a group well versed in the exercise since Boursier-Sogreg.

The deal at a glance
Acquirer
Groupe JBT — Molinges (Jura, France), founded in 1963 · 7 sites with ISO 7-ISO 8 cleanrooms
Target
D&M Plastics — Burlington (Illinois), founded in 1972, now JBT USA
Target's business
Plastic injection moulding for healthcare — ISO 9001 · ISO 13485
Target size
80% of revenue in healthcare · 30+ presses · 5,000 m²
Continuity
Site retained and expanded · site director remains in charge
Published context
Transaction backed by the GEI fund and Bpifrance Investissement
Year
2025 (announced on 18 July)
Our role
Buy-side advisory
Prendre rendez-vous
Un échange confidentiel de 30 minutes avec un associé — sans engagement.
Merci ! Votre demande a bien été reçue.
Une erreur est survenue lors de l'envoi. Merci de réessayer ou de nous écrire à assistance@collaborationcapital.org.
Lancez une recherche de cibles

Un premier échange de 30 minutes avec un associé pour cadrer votre thèse d'acquisition et définir le périmètre de recherche — sans engagement.

  • Reply within 24 business hours

  • Confidentiality guaranteed — NDA on request

  • IOBSP broker registered with ORIAS under no. 25000696

The information collected is used solely to process your meeting request. You have the right to access, correct and delete it — see our legal notice.

Thank you! Your request has been received.
Something went wrong while sending. Please try again or email us at assistance@collaborationcapital.org.