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Martinrea International Inc. Acquires Assets of SKD Group
Martinrea International Inc. (TSX: MRE), a leader in the production of quality metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector, completed several asset purchases from the SKD Group.
SKD Company is a metal forming company, with Canadian plants in Mississauga, Milton and Brampton, currently operating under CCAA protection. Martinrea acquired, in three separate transactions pursuant to a court-approved sale process, certain equipment and inventory from SKD Company, each related to a different customer, namely, Honda, Ford and Chrysler.
Pursuant to separate asset purchase transactions, Martinrea also acquired SKD Group’s manufacturing facilities near Mexico City, Mexico and Jonesville, Michigan. The Jonesville facility is approximately 450,000 square feet, and is Martinrea’s first stamping facility in Michigan. The Mexico City facility is Martinrea’s first metal forming facility in the Mexico City area.
Wildeboer Dellelce LLP represented Martinrea with a team that included Robert Fonn, Robert Wortzman, Alexandra Vazquez (corporate/securities) and Kevin Fritz (tax).
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