PLASCO TOOLING AND ENGINEERING CORPORATION HAS BEEN ACQUIRED BY VISIONEERING, INC., A PORTFOLIO COMPANY OF 3P EQUITY PARTNERS
Birmingham, Michigan – December 15, 2017 – Angle Advisors is pleased to announce that Visioneering, Inc. (“Visioneering”), a portfolio company of 3P Equity Partners (“3P”) has acquired the assets of Plasco Tooling and Engineering Corporation (“Plasco” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Plasco in completing this transaction.
Based in Romeo, Michigan, Plasco is a leading manufacturer of tooling and fixtures to the North American aerospace and defense industry. Products supplied include bond tools, lay-up molds, trim and assembly fixtures, stretch form dies, rubber molds and handling fixture line dolly and hoist tools. Plasco tools can be used in virtually every commercial aerospace structure and primarily consist of wings, empennages, nacelles, rear stabilizers, fuselages, doors and fairings. The Company developed a patented stretch form die technology providing weight reduction and cost savings. Specializing in complex composite tooling, Plasco designs and builds composite cure and trim tools, prototypes, cauls and fixtures. Plasco operates from 42,000 ft2 of vertically integrated manufacturing space which includes a Bond Tech autoclave for curing composite tooling.
Visioneering, founded in 1953 and headquartered in Auburn Hills, Michigan, is a leading designer, manufacturer and installer of complex, high-quality assembly tooling systems for the aerospace and defense industry. With a distinguished history that spans over six decades, Visioneering manufacturers a complete suite of aerospace tooling products, ranging from highly-machined large assembly fixtures to smaller close-tolerance tools. Visioneering’s custom solutions and tooling system expertise have enhanced the aerospace industry’s ability to assemble aircraft in less time and with greater precision and flexibility. For additional information, please visit www.vistool.com.
3P is a family office investment firm that provides equity capital to privately held businesses in the general manufacturing, heavy industries, ecommerce, consumer retail and technology space. 3P makes investments in lower-middle market organizations that show potential for significant growth. Working with management teams, 3P seeks to enhance the long-term value of their portfolio companies through a balance of capital investment, financial restructuring and M&A activity. For additional information, please visit www.3pequity.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm’s professionals have completed 183 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.