The Company was founded in 1978 in Canada and acquired by Texas-based private equity group Insight Equity in 2012. A number of acquisitions have followed over the years, which have grown sales and workforce size.
“Plasman Group is 3800+ team members working at 20 highly automated manufacturing sites and dedicated engineering and sales locations globally. Those are the facts, but it’s not the whole story. Plasman Group comprises dedicated teams that push the boundaries of what is possible. Our team members are leading experts focused on delivering the best value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include tooling, molding, paint applications, chroming and assembly operations of Class “A” plastic exterior trim products”.
On December 29, 2011, Insight Equity completed its acquisition and simultaneous combination of A.P. Plasman, Inc. and Invotronics, for an undisclosed value. It involved a refinancing of A.P. Plasman, Inc.’s credit facilities by GSO Capital Partners and Bank of America, NA. Insight Equity will hold a controlling interest in the combined entity with management maintaining a meaningful ownership position. Insight Equity, headquartered in Dallas, Texas, is a private equity firm. A.P. Plasman, headquartered in Windsor, Ontario, is a manufacturer of exterior trim and other plastic painted parts. Invotronics, headquartered in Toronto, Ontario is a supplier of complex automotive electronic components.
BDC Credit Reporter View
IVQ 2018: Debt $191mn in 2019 Term Loan. Invested $2.5mn in equity for first time. Valued at zero. Company added to Watch List: CCR 3.
IIIQ 2018: BDC debt exposure discounted to (7%)
2011: FSK (then FS Investment) initiates exposure with senior secured loan of $54mn.