Unique Fabricating acquired the business and substantially all of the assets of Intasco, a Canadian-based provider and manufacturer of precision die cut solutions, and purchased 100% of the outstanding capital stock of Intasco USA.

To finance the acquisition, Unique refinanced its existing senior credit facility with Citizens Bank, including a $30 million revolving line of credit, a $17 million term loan to Unique and a $15 million term loan to Unique-Intasco Canada, with Citizens serving as the syndication agent.

Intasco provides adhesive products to the automotive and manufacturing industries, primarily in the U.S. and Canada. The company is a leader in providing material conversion of pressure-sensitive products such as film, label stock and foams, as well as adhesives and automotive die cuts with a specialty in interior and exterior attachment systems.

Intasco generated approximately $17.8 million in revenues, with net income of approximately $2.6 million and EBITDA of approximately $3.6 million, based on unaudited financial results for the 12-month period ending January 31, 2016.

In consideration for the acquisition, which closed on April 29, 2016, a newly formed subsidiary of the company, Unique-Intasco Canada paid approximately C$26.5 million ($21 million) in cash at closing for the purchase of Intasco. In addition, Unique Fabricating, an existing subsidiary of the company, purchased 100% of the outstanding capital stock of Intasco USA for approximately C$1 million ($790,000) paid by the issuance of 70,797 shares of the company’s common stock, par value $0.001 per share.

Unique Fabricating engineers and manufactures multi-material foam, rubber and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market.