Cerberus Capital buys thermoplastic auto components maker ABC Group

Cerberus Capital Management LP, a global private investment firm, has acquired ABC Group Inc, the Canada-based suppliers of thermoplastic components and systems for automotive industry. Founded in 1974 and headquartered in Toronto (Canada), ABC Group designs, develops and manufactures a highly engineered and strategically diverse thermoplastic product portfolio from its global footprint of 36 locations throughout North America, South America, Europe and Asia.

Dev Kapadia, managing director at Cerberus. “We firmly believe in ABC Group’s proven business model, consisting of innovative product solutions and vertically integrated global manufacturing operations, and are confident that our automotive sector expertise and extensive operational capabilities will enable the company to continue to grow.”

In conjunction with the transition to new ownership, Helga Schmidt will step down as chairman and chief executive officer of ABC Group and key members of the executive team will assume new roles. Mary Anne Bueschkens, current president and general counsel, will become chief executive officer.

Bueschkens commented, “This transaction will provide ABC Group with greater access to capital to support further investments in our people, products and operations, ensuring a continued legacy of delivering innovation, quality and exceptional service to our global automotive customer base. We look forward to our next phase of growth alongside Cerberus as we enhance and expand our integrated product solutions and further broaden our extensive thermoplastics manufacturing expertise.”