ABC Technologies Holdings Inc. is acquiring WMG Technologies for USD 165 million to enhance its capabilities in automotive exterior products and tooling technologies.
Information on the Target
ABC Technologies Holdings Inc. (TSX: ABCT), a prominent manufacturer and supplier of custom-engineered plastics and lightweight innovations for the automotive industry, has entered into a definitive agreement to acquire WMG Technologies (WMGT) for approximately USD 165 million. This acquisition not only adds to ABC's portfolio of exterior products but also enhances their capabilities in injection molding and tooling technologies.
Based in Windsor, Ontario, WMGT has a strong reputation as a tier-1 and tier-2 supplier to major global automotive Original Equipment Manufacturers (OEMs) and has been in operation since 1972. WMGT generated approximately USD 270 million in revenue for the fiscal year ending April 30, 2022, thanks to its extensive capabilities in manufacturing complex tooling for both interior and exterior automotive components.
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Industry Overview in Canada
The automotive industry in Canada is a critical sector that has been experiencing gradual recovery and growth since the disruptions caused by the pandemic. The sector is highly competitive, with a focus on innovation and sustainabi
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Disclosed details
Transaction Size: $165M
Revenue: $270M