Exo-s Inc. is expanding injection molding capabilities through the acquisition of Plastiques Moore Inc., a company located in Saint-Damien-de-Buckland, Quebec.
Desjardins Capital, which has been majority shareholder in Sherbrooke, Quebec-based Exo-s since 2012, financed the purchase in its entirety.
Plastiques Moore operates out of a combined 80,000 square feet and employs more than 110 workers.
"The acquisition of Plastiques Moore is a strategic transaction that will allow Exo-s to increase its expertise and diversify its markets in North America," Exo-s CEO Emmanuel Duchesne said in a statement.
Exo-s said the acquisition means that the company has been able to increase sales by fourfold in the past 10 years.
"Exo-s is without a doubt the best possible partner because it is a Quebec company that cares about its employees and for whom social involvement within its community is important. It will allow Plastiques Moore to continue its accelerated growth by keeping the current team in Saint-Damien," Plastiques Moore President Marie-Claude Guillemette said in a statement.
Plastiques Moore designs, makes and assembles high-precision small- and medium-sized injection molded parts, the new owner said. The company is the only injection molding firm in Quebec with three ISO-8 clean rooms used for medical sector manufacturing.
Exo-s, with more than 50 years in business, also is a blow molder. The company has a total of 850 employees in Canada, the United States and Mexico. Molding plants are in Coldwater, Mich.; Howe, Ind.; Richmond, Quebec; and San Juan Del Rio, Mexico. Tooling plants also are located in Howe and San Juan Del Rio.
Plastiques Moore, founded in 1991 by Guillemette and her mother, Judith Moore, has three buildings in a Saint-Damien-de-Buckland industrial park, a Windsor, Ontario, sales office, and a production site in San Luis Potosí, Mexico. The third building in the industrial park, with 40,000 square feet, was just acquired in January 2020.
"Already active in the automotive industry, Exo-s believes that this acquisition will offer significant growth opportunities in the medical, industrial, mining, military and household appliance markets. This acquisition will also allow Exo-s to expand its range of processes," the company said in a statement.