Private equity firm the Desjardins Group is buying the thermoplastic division of Quebec-based injection molder and blow molder Camoplast Solideal.
The terms of the deal have not been announced.
The new company, to be named Exo-s once the deal is completed, includes all operations related to the development, manufacturing and sale of injection molded and blow molded products, and will be headquartered in Sherbrooke.
“By becoming a standalone business, the team we have will be able to focus on accelerating our growth perspectives,” said Marie-Claude Boisvert, chief operating officer of Montreal-based Desjardins. “With the support of our experienced, qualified and dedicated staff, we can build on Camoplast Solideal’s robust entrepreneurial culture of excellence. It underscores our commitment to being a leader in the injection molded and blow molded products industry.”
The business makes engine covers, thermal systems, coolant reservoirs washer reservoirs and air induction systems for the auto industry and a variety of agriculture and all-terrain utility vehicle parts.