Plasman Group Acquires Plastal Industri
Insight Equity Holdings LLC, a middle-market private equity firm, announces that its automotive components portfolio company, the Plasman Group, Windsor, Ontario, Canada, has acquired Plastal Industri, Gothenburg, Sweden, from Handel Och Industri.
Plastal Industri is a leading Tier 1 supplier of engineered thermoplastic bumper modules, painted and unpainted exterior trim, and plastic parts serving both the passenger car and heavy commercial vehicle markets. The company manufactures a wide range of innovative injection molded and surface treated exterior plastics including complex bumper systems, spoilers, and sill covers. Plastal was founded in 1961 in Sweden and operates out of four state-of-the-art production facilities in Sweden, Norway, and Belgium.
“Adding Plastal to our portfolio gives the Plasman Group a strategic footprint in the growing European Auto Market,” commented David Wiskel, Plasman Group’s Chief Executive Officer. “It also provides our company with new products and customers. The combined entity will offer our world class products and capabilities in two of the largest automotive markets in the world.”
Eliot Kerlin, Partner at Insight Equity, noted, “Plasman has proven itself to be a platform for growth, and not just through organic expansion. This is our third strategic acquisition in the last 18 months. With Plastal, we are excited to broaden both our geographic reach into Europe and our relationships with world-class OEMs like Volvo Car Corporation and Scania. This footprint in Europe provides the Plasman Group with a broad base from which to offer turnkey solutions for large exterior plastic components whether painted, chrome-plated, or both, to international and North American OEM customers.”
Plasman offers fully-integrated design, engineering, tooling, molding, finishing (painting and chroming), and assembly capabilities and has approximately 3,600 employees across its network of 16 facilities across North America and Europe. The company was founded in 1978 and is headquartered in Windsor, Ontario.
Plasman Group Headquarters
Plastal Industri AB
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