ABC Technologies Holdings Inc. (TSX:ABCT) agreed to acquire Automotive business of Plastikon Industries, Inc. for $130 million on August 23, 2023. Plastikon Automotive's fiscal 2022 revenue was approximately $280 million and will be renamed Plastikon Automotive. The purchase price is $130 million and the transaction is expected to close in the third calendar quarter of 2023 subject to the satisfaction of customary closing conditions. The acquisition is being financed through a drawdown under the Company's credit facility. Scotia Capital and TD Securities acted as financial advisors to ABC Technologies. Gregory Urban, Bryan Dow, Chen Na, Renny Liu of Stifel acted as financial advisor to Plastikon. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to ABC Technologies. Murray Indick and Matt O?Donnell of Morrison & Foerster LLP served as legal counsel to Plastikon.

ABC Technologies Holdings Inc. (TSX:ABCT) completed the acquisition of Automotive business of Plastikon Industries, Inc. on September 30, 2023.