On March 1, 2023, WMG Technologies, a leading tier-1 and tier-2 supplier to major global automotive OEMs with facilities across North America, closed a previously announced transaction with ABC Technologies Holdings Inc. for the sale of 100% of the shares of Project Freeway Inc., which ultimately owned 100% of the shares of the entities comprising WMGT. WMGT sold for a purchase price of US$165 million with potential earn-out payments that may become payable upon the achievement of specified profitability targets over the next 24 months.
Cassels acted for WMGT.