UFP Technologies, Inc.
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Company Description
- CEO
- Mitchell C. Rock
- Full Time Employees
- 4,846
- Sector
- Process industries
- Industry
- Industrial specialties
- Address
- 100 Hale Street Newburyport MA United States 01950-3504
- IPO Date
- Dec 17, 1993
- CIK
- 0000914156
- Website
- ufpt.com
- Similar Companies
- Business
- UFP Technologies, Inc. is a designer and custom manufacturer of engineered solutions primarily for the medical device market, specializing in comprehensive products such as single-use medical devices, sterile packaging, sub-assemblies, components, foams, films, plastics, and surgical robotics draping systems. The company serves medical applications including minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants. Beyond medical, UFP also provides highly engineered products to automotive, aerospace, defense, consumer electronics, and industrial markets. Founded in 1963 and headquartered in Newburyport, Massachusetts, UFP operates multiple manufacturing facilities and design centers, including locations in the United States, Dominican Republic, Ireland, and Singapore. Recent major changes include significant acquisitions in 2024 to expand capabilities, notably the acquisitions of UNIPEC and TPI to enhance film and thermoplastic molding operations. The company reported record financial results for 2024 with sales reaching $504.4 million, a 26.1% increase from 2023, and net income rising 31.3% to $59 million, driven by organic growth and strong performance from newly acquired companies like AJR Enterprises, Welch Fluorocarbon, Marble Medical, and AQF Medical. UFP Technologies also announced expansion of operations in the Dominican Republic to support growth in robotic surgery and other new business lines. Leadership transitioned with CEO R. Jeffrey Bailly planning retirement in mid-2026, succeeded by Mitchell C. Rock, current President, signaling a continuity in strategic focus. UFP's capabilities include advanced design and engineering services, precision manufacturing processes such as rotary die cutting, RF and thermoplastic welding, cleanroom fabrication, and material expertise in medical foams, high-performance films, and flexible polyurethane solutions. The company emphasizes innovation in developing tailored components and packaging solutions critical to medical device manufacturers worldwide, supporting a diverse customer base with complex, regulated product needs and expanding global commercial reach. The company continues to invest in automation, technology upgrades, and geographic expansion to strengthen its platform and supply chain position while targeting acquisitions that complement its portfolio and enhance value for customers. UFP Technologies maintains strong cash flow to reduce debt and finance growth, positioning itself as a key outsource partner in the medical device supply chain with a reinforced footprint in strategic markets globally.
Company News
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