Schroder Canadian Buy-out Fund III Acquires 51% of Automotive Supplier A.P. Plasman Corporation

4 December 2000
Schroder Canadian Buy-out Fund III Acquires 51% of Automotive Supplier A.P. Plasman Corporation
    MONTREAL, Dec. 4 /PRNewswire/ -Schroders & Associates Canada Inc.
announces that Schroder Canadian Buy-Out Fund III, along with a coinvestor,
has acquired 51% of the equity of A.P. Plasman Corporation ("Plasman") in a
transaction valuing the company at approximately C$200 million. This
transaction is the Fund's second investment.
    Plasman is an integrated group of companies providing the design and
manufacturing of molds and plastic components, as well as painting and
assembly of parts primarily for the automotive industry. Its facilities are
located in the greater Windsor/Detroit area, where it services a customer base
consisting of OEMs and Tier 1 automotive suppliers.
    Alec Pinsonneault, President of A.P. Plasman Corporation, founded the
company in 1978. Under his leadership, Plasman evolved into a fully integrated
plastics operation with consolidated sales of over C$115 million in fiscal
year 2000. Mr. Pinsonneault and members of his senior management team continue
to be significant shareholders in the company.
    "Schroders brings a wealth of experience and will assist us in bringing
Plasman to a higher level of success. Key factors in my selection of this
group was their successful track record, integrity and enthusiastic support of
our business strategy," said Mr. Pinsonneault.
    Paul Echenberg, President of Schroders & Associates, commented: "We are
impressed by Alec and his team and the company as a whole. We are looking
forward to working with our new partners in the execution of Plasman's
business plan."
    Schroders & Associates, established in Canada since 1987, recently
announced the first closing of its third Canadian Buy-Out Fund with C$110
million in commitments. The firm is associated with the worldwide activities
of the Schroder Ventures group, which advises 25 venture capital and buy-out
funds based in ten countries and totalling approximately US$7.5 billion in
capital.