ABC Technologies Inc. (Formerly ABC Group, Inc.)

Company Profile

Business Overview

-The Company is a Tier 1 supplier that designs, engineers, manufactures, and sells plastic systems and components for the automotive industry. The Company’s products are used in functional and decorative applications and fluid management solutions. Its capabilities include blow and injection molding, thermoforming, sheet extrusion, compression molding, interior and exterior painting, and material compounding.

-The Company’s products are organized into six product groups:

• Interior Systems
• Exterior Systems
• HVAC Distribution Systems
• Air Induction Systems
• Fluid Management Systems
• Flexible Products

-On August 23, 2023, the Company entered into an agreement to acquire the automotive business of Plastikon Industries, which will be renamed Plastikon Automotive upon completion of the transaction. Plastikon Automotive develops and manufactures plastic assemblies, automotive interior parts, and EV battery housings. Its portfolio includes injection molding headliners, door assemblies, center console assemblies, and cluster meters. The Company will acquire Plastikon Automotive for a purchase price of USD 130 million. The transaction closed in the third quarter of 2023.

-On September 5, 2023, the Company entered into a definitive agreement to be taken private. The agreement involves AP IX Alpha Holdings (Lux) S.à.r.l. (Alpha Holdings), and Oaktree Capital Management funds including OCM Luxembourg OPPS XI S.à.r.l. (OPPS XI) and OCM Luxembourg OPPS XB S.à.r.l. (OPPS XB). The three purchasers will acquire all the Company’s shares that they currently do not own, purchasing the shares at CAD 6.75 per share, representing a premium of approximately 32%. As of September 5, 2023, Alpha Holdings owns 65.1% of the Company’s shares and Oaktree Capital Management holds 28.3% of the shares through its funds. The agreement was approved by the Company’s security holders on October 19, 2023. On October 26, 2023, the Company closed the transaction between the parties and delisted its shares from the Toronto Stock Exchange. With the completion of the agreement, Alpha Holdings holds 69.7% of the Company’s shares and Oaktree owns 30.3% of the shares.

Shareholders

-The Company is a privately held entity. On October 26, 2023, AP IX Alpha Holdings (Lux) S.à.r.l. (Alpha Holdings), and Oaktree Capital Management funds through OCM Luxembourg OPPS XI S.à.r.l. (OPPS XI) and OCM Luxembourg OPPS XB S.à.r.l. (OPPS XB) completed the acquisition of the Company’s remaining shares. Upon the completion of the transaction, the Company was delisted from the Toronto Stock Exchange.

Products

Interior Systems

• Floor consoles
• Cargo management systems
• Instrument panel components
• Cargo floors
• Structural seat backs
• Load floor/deck boards
• Knee/side boards
• Door panels
• Garnish trim
• Door panel trim
• Deco trim

Exterior Systems

• Spoilers
• Running boards
• Bumper systems
• Body side moldings
• Rocker panels
• Cladding
• Cargo management systems
• Bed extenders
• Roof ditch moldings

HVAC Distribution Systems

• Defroster ducts
• I/P ducts
• Front floor ducts
• Rear ducts
• Console ducts
• Auxiliary ducts
• Battery cooling ducts
• Brake cooling ducts
• Air guides
• Aspirator ducts
• Module components

Air Induction Systems

• Integrated air induction systems
• Turbo ducts
• Air intake ducts
• Resonators
• Air cleaner housings
• Clean/dirty air ducts
• Air box filters

Fluid Management Systems

• Windshield washer reservoir assemblies
• Coolant overflow reservoir assemblies
• Surge tank assemblies
• Power steering reservoirs
• Battery trays

Flexible Products

• CVJ boots
• Rack pinion boots
• Air demister hoses
• Prop shaft boots
• Suspension dust covers
• Steering column covers

History