On December 22, 2022, ABC Technologies Holdings Inc. announced its acquisition of WMG Technologies (WMGT) from the Bierer family for C$222 million (US$165 million), with additional potential earn-out payments based on profitability over the next 24 months. WMGT, a prominent supplier to global automotive OEMs since 1972, is known for its tooling for injection-molded parts and generated about C$363 million (US$270 million) in revenue in its last fiscal year.

The acquisition, which aligns with ABC’s own history as a family-owned Canadian business, is expected to enhance ABC’s product offerings, particularly in exterior products and injection molding expertise. Terry Campbell, President and CEO of ABC Technologies, emphasized the shared legacies and the potential for growth under ABC's stewardship. David Mastronardi, President and CEO of WMGT, also expressed optimism about the future growth and opportunities.

The financing for the initial transaction is expected to come from ABC’s amended Credit Facilities, providing the necessary flexibility for the acquisition. The deal is anticipated to close in ABC Technologies’ Fiscal Third Quarter 2023, subject to regulatory approvals from the Canadian Competition Bureau and the Mexican Federal Economic Competition Commission.

Legal advisors for the deal included Blake, Cassels & Graydon LLP and Evercore for ABC Technologies, and Cassels Brock & Blackwell LLP for WMGT. KPMG LLP, Deloitte Mexico, and Akin Bay Company LLC served as financial advisors to WMGT.