SOUTHLAKE, Texas; WINDSOR, Ontario; and GOTHENBURG, Sweden – April 25, 2018 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, is pleased to announce that Plastal Industri, the European division of Insight Equity’s portfolio company the Plasman Group, has acquired the intellectual property and assets of ARWI High-Tech Coating Raufoss AS.
ARWI is known for delivering its proprietary Physical Vapor Deposition (“PVD”) technology as a compelling alternative to traditional chrome-6 plating for both automotive and non-automotive OEMs. This new technology fits well in Plasman’s portfolio of painted exterior plastics parts and the acquisition builds on years of collaboration between Plastal and ARWI.
Eliot Kerlin, Partner at Insight Equity, noted “We are thrilled to add PVD to Plasman’s catalog of Class A exterior finishes. This is the fourth acquisition for Plasman in four years illustrating that the Plasman Group is a strong platform for global growth, as well as continually striving to be at the forefront of product quality, design and innovation.”
“This is a milestone that gives us great momentum in our quest to provide innovative, valuable technology to our existing and new customers. This PVD technology is an environmentally friendly, high-gloss coating that offers new possibilities in design, material combinations, and sensor technology compared to traditional chrome plating,” added Björn Mannerfelt, R&D Director at Plastal.
Plastal will continue the development of this technology in its newly acquired facility which is right next to Plastal’s existing factory in Raufoss, Norway.
Plastal Industri is a leading Tier 1 supplier of engineered thermoplastics, 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 is headquartered in Gothenburg, Sweden and operates out of four state-of-the-art production facilities in Sweden, Norway, and Belgium.
The Plasman Group is a designer and manufacturer of Class A exterior trim products and sub-systems 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 4,300 employees across its network of 16 facilities across North America and Europe. The company was founded in 1978 and is headquartered in Windsor, Ontario.
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight Equity facilitates operating enhancements and growth. The firm 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. Insight Equity is headquartered near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.