Auburn Hills-based automotive supplier Unique Fabricating Inc., a manufacturer of multi-material foam, rubber, and plastic components, has acquired Intasco Corp., a Canadian manufacturer of precision die cut solutions, for $21 million.
“This acquisition is representative of our strategy to acquire profitable companies that add new markets, products, and processes that enable us to recognize sales efficiencies and expand our scale,” says John Weinhardt, CEO of Unique Fabricating. “The specialized processes and customized nature of Intasco’s offerings provide an attractive, high-margin growth opportunity to augment our financial performance.”
Under the terms of the deal, Unique Fabricating’s new subsidiary, Unique-Intasco Canada Inc., paid $21 million in cash for the purchase of Intasco. In addition, Unique Fabricating’s existing subsidiary Unique Fabricating NA Inc. purchased 100 percent of the outstanding capital stock of Intasco USA Inc. for $790,000.
London, Ontario-based Intasco provides specialized adhesive products to the automotive and manufacturing industries primarily in the U.S. and Canada. The company offers material conversion of pressure-sensitive products such as film, label stock, and foams, as well as adhesives and automotive die cuts with a specialty in interior and exterior attachment systems. Intasco, founded in 1975, also has a facility in Port Huron.
“Through this transaction we are enhancing our position as a one-stop shop for many of our current customers and creating opportunities to expand the addressable market of the Intasco business,” Weinhardt says. “This combination provides us with a stronger geographic presence in Canada, additional opportunities to service key customers, and it helps us strengthen our competitive position in the markets we serve.”
Unique Fabricating engineers and manufactures foam, rubber, and plastic components used for noise, vibration, and harshness management, acoustical management, water and air sealing, and decorative applications. Unique Fabricating, founded in 1975, also has production facilities in Georgia and Mexico.