Sponsored By

Thermotech acquired by A.P. Plasman affiliate

Stout/Risius/Ross (SRR), a global financial advisory services company, announced that its client, Thermotech Inc. (Hopkins, MN), has been acquired by an affiliate of A.P. Plasman Inc. (Windsor, ON, Canada), a manufacturer of automotive exterior trim and other plastic painted parts and a portfolio company of Insight Equity Holdings LLC. SRR served as exclusive financial advisor to Thermotech in connection with this transaction.

Clare Goldsberry

May 22, 2015

1 Min Read
Thermotech acquired by A.P. Plasman affiliate

Stout/Risius/Ross (SRR), a global financial advisory services company, announced that its client, Thermotech Inc. (Hopkins, MN), has been acquired by an affiliate of A.P. Plasman Inc. (Windsor, ON, Canada), a manufacturer of automotive exterior trim and other plastic painted parts and a portfolio company of Insight Equity Holdings LLC. SRR served as exclusive financial advisor to Thermotech in connection with this transaction.

thermotech-400.jpgFounded in 1949, Thermotech is an ISO/TS certified designer, engineer and manufacturer of injection molded electrical and mechanical components and assemblies, primarily for the automotive, small engine, consumer, electronic and other industrial markets. Thermotech operates a network of four plants in the United States and Mexico, including manufacturing facilities in Juarez, Monterrey and Queretaro.

Thermotech's process capabilities include thermoplastic and thermoset molding, insert molding, two-shot molding and assembly. The company utilizes scientific decoupled molding technology. Thermotech also has in-house moldmaking, and specializes in transfer tooling from other facilities to accommodate customer requirements.

David Evatz, Managing Director and head of SRR's plastics industry practice, said, "Thermotech complements A.P. Plasman's existing business by adding new products, customers and end markets along with an expanded geographic footprint in the United States and Mexico."

Muzammil "Minou" Hussain, former Chairman and CEO of Thermotech, said, "Since I acquired Thermotech in 2007, a significant amount of work and investment has been put into the business, resulting in growth and improved profitability. I am proud of Thermotech employees and the management team, and feel the company is well positioned to continue its growth with A.P. Plasman."

About the Author(s)

Clare Goldsberry

Until she retired in September 2021, Clare Goldsberry reported on the plastics industry for more than 30 years. In addition to the 10,000+ articles she has written, by her own estimation, she is the author of several books, including The Business of Injection Molding: How to succeed as a custom molder and Purchasing Injection Molds: A buyers guide. Goldsberry is a member of the Plastics Pioneers Association. She reflected on her long career in "Time to Say Good-Bye."

Sign up for the PlasticsToday NewsFeed newsletter.

You May Also Like