Visioneering, Backed by Silver Sail Capital, has Completed the Acquisition of Plasco Tooling and Engineering CorporationSeptember 29, 2017 Leave your thoughts
Detroit, MI – September 29 2017 – Visioneering, Inc., together with Silver Sail Capital, LLC (“SSC”) and 3P Equity Partners, LLC (“3P”, and together with SSC, “S3”) , have announced today the acquisition of Plasco Tooling and Engineering Corporation (“Plasco” or the “Company”). The terms of the transaction were not disclosed.
Visioneering is excited to partner with Plasco’s original founder and other management personnel to bring a complementary set of capabilities and expertise to Visioneering’s existing range of solutions. The Company will become a new division of the organization, called Visioneering Composite Technologies (“VCT”). Visioneering plans to leverage the Company’s long-standing presence in the composite tooling segment to bring a full suite of tooling offerings to its current and future customers. As a strategic financial investor, S3 will provide access to additional resources and capital that will enable continued growth by the combined organization. As part of the acquisition, Visioneering plans to retain all employees of the Company and support their transition and onboarding.
Plasco Corporation (“Plasco” or the “Company”) is a vertically integrated, independent tool and die manufacturer to the North American aerospace and defense industry. Established in 1989, the Company is headquartered in Romeo, MI, with 42,000 sq. ft. of manufacturing and office space. Operations include the engineering, design, manufacturing, and testing of piece parts, fixtures, templates, and complete fuselage dies and dozers. Plasco enjoys a premier reputation in the marketplace providing superior quality, speed of delivery and customer service. The Company provides the group entry into the composite tooling segment which will establish Visioneering as the premier, one stop shop, aerospace tooling supplier.
Visioneering Tool & Engineering is the premier tooling supplier to the aerospace and defense industry. The Company designs, manufactures, and installs complex, high-quality assembly tooling systems for the leading aerospace corporations in the world. Visioneering prides itself as an industry leader in design, manufacturing and customer service. The Company invested in a state of the art facility in 2015 which coupled work force expertise to provide its customers with the most advanced manufacturing methods to ensure unsurpassed quality, on time delivery and customer satisfaction.