The deal gives Toronto-based auto parts supplier ABC more expertise in both injection molding and tooling.
In a move that aims to strengthen its exterior products offering, Toronto-based automotive supplier ABC Technologies Holdings Inc. has acquired Windsor Mold Group Technologies (WMGT) for US$165 million.
Headquartered in Windsor, Ont., WMGT is a Tier 1 and Tier 2 supplier to major global automotive OEMs with facilities across North America, specializing in complex tooling for injection molded exterior and interior parts, lighting molds, and optic inserts. The company reported US$270 million in sales for its fiscal year that ended April 30.
WMGT has Canadian operations in Windsor and Amherstburg, Ontario; Saline, Mich.; Bellevue, Ohio; Pulaski, Tenn.; Pharr, Texas, and Querétaro, Mexico.
“WMGT brings with it a rich history as a family-owned Canadian business that parallels ABC’s own story,” ABC president and CEO Terry Campbell said in a Dec. 22 news release. “Founded two years apart, both companies built strong legacies guided by intentional and focused leaders.”
In addition to boosting its exterior products offering, Campbell added, the deal expands ABC’s injection molding technical expertise and brings additional value-added tooling in-house.
ABC offers three product groups: Interior Systems, Exterior Systems and HVAC, and Fluids & Other.
“I’m confident that the combination of our businesses…will catalyze meaningful growth and opportunities while establishing the combination as a supplier of choice,” WMGT president and CEO David Mastronardi said in the release.
The acquisition is expected to close in early 2023.
Reposted from https://www.canplastics.com/automotive/abc-technologies-buying-windsor-mold-group-technologies/1003460056/
