ABC Technologies draws on amended credit facility for WMG acquisition

Chicago, March 1 – ABC Technologies Holdings Inc. drew down on its amended and restated credit facilities to finance its acquisition of WMG Technologies from the Bierer family for $165 million, according to a press release.

The terms of the acquisition include the potential for earn-out payments that may be due upon the achievement of specified profitability targets over the next 24 months.

The company amended its credit facility on Dec. 5 to pave the way for the acquisition.

The amended facility includes a delayed-draw term loan for up to $185 million. The loan is available for 120 days after the acquisition has closed. The loan matures in February 2027.

The company also merged two revolving credit facilities into one $550 million revolver with a maturity date in February 2027.

ABC Technologies is an engineered plastics manufacturer for the light vehicle industry based in Toronto. WMG Technologies is a tier-1 and tier-2 supplier to major global automotive original equipment manufacturers with facilities across North America.

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