|Poly Nova Technologies Inc. (Canada), a manufacturer of precision rubber products, has been acquired by Starlim/Sterner from Austria.|
|Target Company Name||Poly-Nova Technologies Inc.|
|Buyer Name / MBO Team / MBI Team||Starlim/Sterner GmbH|
Situation: Poly-Nova Technologies, based in Ontario and founded in 1996, is a world leader in state-of-the-art rubber molding and material development of highly-engineered parts for the automotive, appliance, and electrical markets. When the company decided to undergo a shareholder transition, the economy was at the start of the downturn and their industry sector (auto parts manufacturing) was sliding into a deep trough. To complicate matters, Poly-Nova’s corporate structure included three shareholders, one active and two passive, with three independent holding companies, two of which were registered in the USA and one in Canada.
Solution: CFA Toronto West was hired to search for the ideal strategic growth partner for Poly-Nova. Due to the complicated corporate structure and current economic state, it would take the perfect scenario to effect a successful close… a perfect strategic buyer coupled with an experienced legal, tax and M&A team to navigate this challenging cross-border deal. The perfect fit was found in Starlim/Sterner GmbH of Marchtrenk, Austria, a global leader in liquid injection molding of silicon parts for the auto and medical industry. On April 4, 2011, the sale of Poly-Nova Technologies Inc. to Starlim North America Corporation was completed. Each participants’ goal was met through this transaction – the buyer found a perfect strategic fit, the two passive shareholders were happily divested of their interest in the business, and the single active shareholder found a new business partner focused on growth.
|ICFG Office||Toronto, Canada|
|ICFG Advisory||cfa Toronto West, member of ICFG, advised the seller.|