Minden Gross advises Powerflow on acquisition by Adell Group

Financial terms of deal between auto parts manufacturers were undisclosed

Minden Gross advises Powerflow on acquisition by Adell Group
Ryan Gelbart

Minden Gross LLP has advised Powerflow on its acquisition by US-based firm Adell Group.

According to a statement by the Ontario law firm, the transaction includes both Powerflow Products Ltd in Toronto and Powerflow Inc. in Buffalo, New York. The deal’s financial terms were not disclosed.

The Minden Gross team that worked on the deal included Ryan Gelbart (business law), Alexandra Toten (business law), Tracy Kay (employment and labour) and Michael Goldberg (tax), along with support in the US from the firm’ Meritas affiliate Woods Oviatt Gilman LLP (Christian J. Henrich and Michael A. de Gennaro).

Kirkland & Ellis LLP served as legal counsel to Adell. Financing for the transaction was provided by BBVA USA, Alliance Partners LLC, and Stifel Bank & Trust.

Powerflow manufactures and distributes injection-molded plastic trim parts, which are sold to automotive vehicle manufacturers and dealers. Meanwhile, Adell, which is backed by Kinderhook Industries, also manufactures various automotive body parts and accessories.

“We are excited about our partnership with Kinderhook and Adell,” said Powerflow founder and CEO Doug Ward. “Powerflow intends to leverage the resources and experience of its new partners to continue providing our customers with top of the line products and service.”

Related stories

Free newsletter

Our newsletter is FREE and keeps you up to date on all the developments in the Ontario legal community. Please enter your email address below to subscribe.

Recent articles & video

Ont. Court of Appeal allows beneficiary to exercise will’s option to buy changed ‘farming business’

More than half a million dollars in costs awarded to victims of abuse in mental health institution

Ontario Court of Justice welcomes Caroline Kim as new judge

Employment insurance sickness benefits deductible from income replacement benefits: Ontario court

Reasonable grounds for drug arrest without direct witnessing of crime: Ontario Court of Appeal

Seized cash circumstantial evidence that accused is drug trafficker: Ontario Court of Appeal

Most Read Articles

LSO tribunal allows lawyer accused of theft to practise in-house pending merits determination

OBA raises concerns over Tribunals Ontario's 'digital-first' approach to hearings

Human Rights Commission reacts to proposed migrant worker housing by-law in Kingsville

Reasonable grounds for drug arrest without direct witnessing of crime: Ontario Court of Appeal