M&A Deal Summary

ABC Technologies Acquires dlhBOWLES

On January 5, 2022, ABC Technologies acquired automotive company dlhBOWLES from MPE Partners, Apogem Capital and Manulife Investment Management for 255M USD

Acquisition Highlights
  • This is ABC Technologies’ 1st transaction in the Automotive sector.
  • This is ABC Technologies’ largest (disclosed) transaction.
  • This is ABC Technologies’ 1st transaction in the United States.
  • This is ABC Technologies’ 1st transaction in Ohio.

M&A Deal Summary
Date 2022-01-05
Target dlhBOWLES
Sector Automotive
Buyer(s) ABC Technologies
Sellers(s) MPE Partners
Apogem Capital
Manulife Investment Management
Deal Type Add-on Acquisition
Deal Value 255M USD

Target

dlhBOWLES

Canton, Ohio, United States
dlhBOWLES is a supplier of innovative engineered plastic solutions to many of the largest corporations and most recognizable brands around the globe in the automotive and consumer products industries. The company designs and manufactures automotive products for camera and sensor wash systems, windshield washer systems, powertrain, chassis, and sunroof products. It also provides solutions for a wide array of consumer products in the areas of consumer sprays, plumbing, irrigation, and other diverse applications. dlhBOWLES was founded in 1961 and is based in Canton, Ohio.

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Buyer(S) 1

Buyer

ABC Technologies

Toronto, Ontario, Canada
Category Company
Founded 1974
Sector Automotive
Revenue 972M USD (2022)
DESCRIPTION

ABC Technologies is a full-service automotive supplier of blow molded and injection molded thermoplastic components and systems including: center consoles, spoilers, bumper systems, HVAC ducts, filters, fluid reservoirs, and other parts. ABC Technologies was founded in 1974 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 3
Sector (Automotive) 1 of 2
Type (Add-on Acquisition) 1 of 3
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 Polybottle Group

Surrey, British Columbia, Canada

Polybottle Group Ltd. is a manufacturer of plastic containers and industrial parts. Polybottle focuses on a total systems approach - and the continuous improvement of our resources through investments in new technology, processes, and advanced research and development initiatives.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-21 Karl Etzel

Mühlacker, Germany

Karl Etzel is an innovative medium-sized company engaged in the field of plastic injection molding. Karl Etzel's product portfolio includes high-quality plastic components for the automotive industry as well as complex technical injection molded parts for all customers. Karl Etzelwas founded in 1976 and is based in Mühlacker, Germany.

Buy $95M

Seller(S) 3

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.

DEAL STATS #
Overall 57 of 58
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 26 of 27
State (Ohio) 8 of 8
Country (United States) 55 of 56
Year (2022) 1 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 BonaDent

Seneca Falls, New York, United States

BonaDent designs and manufactures a comprehensive line of high-quality dental restorations including crowns, bridges, dentures, and implants. BonaDent was founded in 1950 and is based in Seneca Falls, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 Plastic Components

Germantown, Wisconsin, United States

Plastic Components is a manufacturer of engineered and high precision injection molded components for mission critical applications in the plumbing, small engine, automotive, filtration, consumer products, controls, and other end markets. Plastic Components was founded in 1989 and is based in Germantown, Wisconsin.

Sell -
SELLER

Apogem Capital

Chicago, Illinois, United States
Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.

DEAL STATS #
Overall 44 of 52
Sector (Automotive) 2 of 3
Type (Add-on Acquisition) 18 of 21
State (Ohio) 4 of 6
Country (United States) 44 of 52
Year (2022) 1 of 4
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Race Winning Brands

Mentor, Ohio, United States

Race Winning Brands is a designer, manufacturer, and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiast and racing consumers. RWB consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments. According to industry research, the enthusiast powersport segment has seen annualized growth of 10-15 percent over the last 18 months with forecasted growth of six to eight percent over the next 12 months. Racing Winning Brands is based in Mentor, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 Penlink

Lincoln, Nebraska, United States

Penlink is a provider of communications surveillance software to top federal, state, and local law enforcement agencies in the U.S. and internationally. Penlink was founded in 1986 and is based in Lincoln, Nebraska.

Buy -
SELLER

Manulife Investment Management

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

Manulife Investment Management is a private investment group that provides mezzanine as well as non-controlling equity capital to middle-market businesses. Manulife Investment's target investment size is $10 to $50 million per transaction. The Group prefers opportunities located in the US. Manulife Investment Management was established in 1998 and maintains offices in Boston and New York City.

DEAL STATS #
Overall 17 of 19
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 7 of 7
State (Ohio) 1 of 1
Country (United States) 16 of 18
Year (2022) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 SolAero

Albuquerque, New Mexico, United States

SolAero is a manufacturer of highly efficient, radiation-hard solar cells, Coverglass Interconnected Cells (CICs), and solar panels for space power applications. Since 2001, SolAero products have powered 160 successful space missions with zero on-orbit failures. SolAero Technologies was founded in 1998 and is based in Albuquerque, New Mexico.

Sell $80M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Phoenix Tower International

Boca Raton, Florida, United States

Phoenix Tower International owns and operates towers and other wireless infrastructure and related sites throughout Latin America and the United States. Phoenix Tower International was founded in 2013 and is based in Boca Raton, Florida.

Sell -
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