ABC Technologies Holdings Inc. (TSX: ABCT), a leading manufacturer and supplier of custom, highly engineered technical plastics and lightweighting innovations to the global automotive industry, has entered into a definitive agreement to acquire dlhBOWLES, Inc. from MPE Partners for approximately $255 million.
Based in North Canton, OH, dlhBOWLES is a recognized leader in the North American market for camera and sensor cleaning systems, windshield washer systems, sunroof drains, powertrain and chassis solutions. With approximately $120 million in revenue expected in 2021, dlhBOWLES has established a leading position in the North American washer systems market as well as the quickly expanding market for cleaning systems addressing advanced driving (ADAS) and thermal management for EVs.
“The acquisition of dlhBOWLES further solidifies ABC Technologies’ leadership position in the North American washer systems market, strengthening our product portfolio to better serve our global customers and enhance the capabilities of our Fluid Management division, while improving ABC’s process automation,” said Todd Sheppelman, President and CEO of ABC Technologies. “This acquisition will create a complete product system offering within our Fluid Management division, which we believe will be a win for our customers as well as ABC.”
The waiting period has expired under the HSR Act of 1976 and the transaction is expected to close in ABC Technologies’ Fiscal Third Quarter 2022 (1st Quarter CY 2022).
