Insight Equity Acquires A.P. Plasman and Invotronics
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Goodmans acted as Canadian counsel to Insight Equity, a private equity firm headquartered in Dallas, Texas, in its acquisition and simultaneous combination of A.P. Plasman, Inc. and Invotronics. The purchase price was not disclosed. The transaction was completed on December 29, 2011 and also involved a refinancing of the target’s credit facilities on which Goodmans also acted. Insight Equity will hold a controlling interest in the combined entity with management maintaining a meaningful ownership position.
A.P. Plasman, based in Windsor, Ontario, is a leading manufacturer of exterior trim and other plastic painted parts, serving over 50 North American platforms across multiple automotive customers. Invotronics is a Toronto-based supplier of complex, high reliability automotive electronic components.