ABC Technologies buying camera and sensor cleaning systems maker dlhBowles
The acquisition aims to strengthen ABC’s Fluid Management offering and adjacent product portfolio.
Toronto-based automotive parts molder ABC Technologies Holdings Inc. has agreed to acquire dlhBowles Inc. for approximately US$255 million from Morgenthaler Private Equity Partners.
Headquartered in North Canton, Ohio, dlhBowles manufactures camera and sensor cleaning systems, windshield washer systems, sunroof drains, powertrain and chassis solutions for the North American market.
In a Jan. 5 news release, ABC officials said that dlhBowles has approximately US$120 million in revenue expected in 2021, and that the company “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”.
The news release also said that ABC had been “an important customer” of dlhBowles for years. “We believe ABC’s global reach and ability to cross-sell washer systems products to an even broader group of OEM customers will expand the growth opportunities of the combined businesses and enable us to deliver innovative solutions around the globe,” said dlhBowles president and CEO John Saxon.
The deal is expected to close in the first quarter of 2022.