Plastal Industri has been sold to The Plasman Group
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has advised Handelsbanken’s AB Handel och Industri subsidiary on the sale of Plastal Industri (“Plastal”) to The Plasman Group, a portfolio company of Insight Equity Holdings LLC (“Insight Equity). The terms of the transaction were not disclosed.
Founded in 1961 in Sweden, Plastal 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 operates out of four state-of-the-art production facilities in Sweden, Norway, and Belgium.
Magnus Sternbrink, Chief Executive of AB Handel och Industri, commented: “This is a good conclusion to Handelsbanken’s involvement in Plastal. We invested considerable resources in Plastal and have been very proud that Plastal has won new contracts on our customers’ new platforms. Lincoln International was an outstanding advisor, having the right global connections and extensive experience in the automotive industry to successfully conclude a transaction with Plasman.”
Darren Redmayne, U.K. CEO and Managing Director of Lincoln, said: “This transaction sums up some of Lincoln International’s key skills — bringing international M&A and automotive sector expertise together with our Nordic client coverage to deliver a successful cross-border transaction. We are delighted to have helped Plastal on this important transaction and in the next phase of its strategic development.”
About The Plasman Group
The Plasman Group is a designer and manufacturer of plastic injection molding for state-of-the-art automated painting and complete assembly operations of Class A exterior trim products and subsystems to a variety of OEM and Tier 1 customers. The company 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.
About Insight Equity
Insight Equity makes control investments in strategically viable, mid-market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight facilitates operating enhancements and growth. Insight specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, aggressive growth opportunities, going private transactions, restructurings, and transitions from family ownership. The firm Insight Equity’s headquarters is located near the Dallas / Fort Worth International Airport in Southlake, Texas. The firm also has an office in New York City.
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