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H.I.G. Capital Completes Acquisition of SMTC Company | Company & Finance

NEW YORK–(Small business WIRE)–Apr 5, 2021–

H.I.G. Cash (“H.I.G.”), a primary world wide option financial commitment firm with around $43 billion of equity cash underneath administration, is pleased to announce that an affiliate has completed the acquisition of SMTC Company (“SMTC” or the “Company”). Prior to the transaction, SMTC was publicly listed on NASDAQ.

Launched in 1985, SMTC Company is a world-wide Electronics Manufacturing Expert services (“EMS”) company centered on partnering with leading primary products manufacturers and emerging technological innovation companies to give the entire assortment of stop-to-close EMS expert services, from prototyping and style and design, to producing and logistics. SMTC’s diversified working footprint across the United States and Mexico supports prospects throughout numerous industries, together with aerospace and defense, industrial IoT, electrical power, medical, semiconductors, telecom, communications, and exam and measurement industries.

Edward Smith, President and Chief Govt Officer of SMTC commented, “Over the previous three many years, SMTC has turn out to be a world wide chief between mid-dimensions companies of conclusion-to-end EMS by providing outstanding provide chain management and proactive companies and methods to an expanding base of clients. Partnering with H.I.G. will allow us to accelerate our growth as a result of ongoing expense in our customers, abilities, and footprint.”

Smith ongoing, “This expense supplies SMTC Company with a lengthy-time period partner with an substantial observe record of supporting its portfolio companies with operational skills, technologies, economic management and M&A practical experience. Jointly, we think we can capitalize on strategic development prospects, while continuing to fulfill the needs of our clients by offering large-high quality, innovative methods and expert services.”

Phillip Wood-Smith, Managing Director of H.I.G., commented, “We are happy to associate with Eddie Smith and his staff. They have completed an outstanding position around the earlier three several years serving some of the most desirable EMS stop marketplaces. With its business-primary answers and strong buyer interactions, we believe that there is considerable prospect to make investments in SMTC’s buyers and capabilities to more increase the Company’s leadership posture. We search forward to partnering with SMTC’s gifted administration staff and personnel to provide its consumers with greatest-in-course options, construct upon its existing capability excellence, and help SMTC reach its comprehensive potential.”

Guggenheim Securities LLC acted as economical advisor and Ropes & Grey LLP acted as authorized counsel to H.I.G. on the transaction. Lincoln Worldwide LLC acted as financial advisor and Perkins Coie LLP acted as lawful counsel to the Corporation.

SMTC Company was founded in 1985 and acquired MC Assembly Holdings, Inc. in November 2018. SMTC has much more than 50 manufacturing and assembly traces in the United States and Mexico which creates a potent very low-to-medium volume, substantial-blend, finish-to-conclusion world-wide electronics producing solutions (EMS) supplier. SMTC boasts area help and expanded production abilities globally, together with thoroughly built-in agreement producing providers with a emphasis on global authentic products brands and rising technology organizations, which includes all those in the Avionics, Aerospace and Defense, Industrial IoT, Electric power and Clear Technology, Clinical and Safety, Retail and Payment Units, Semiconductors, Telecom, Networking and Communications, and Take a look at and Measurement industries. As a mid-size provider of stop-to-end EMS, SMTC presents printed circuit board assembly generation, techniques integration and extensive screening providers, enclosure fabrication, as very well as solution structure, and sustaining engineering and source chain administration services. SMTC products and services prolong above the full digital solution daily life cycle from the development and introduction of new goods as a result of to the growth, maturity and finish-of-daily life phases. For even further information on SMTC Corporation, remember to go to www.smtc.com.

H.I.G. is a top world-wide private fairness and substitute belongings financial commitment company with more than $43 billion of equity capital under administration.* Primarily based in Miami, and with places of work in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as perfectly as global affiliate places of work in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in giving both equally credit card debt and fairness cash to little and mid-sized providers, making use of a adaptable and operationally focused/ price-included solution. Considering that its founding in 1993, H.I.G. has invested in and managed a lot more than 300 corporations worldwide. The firm’s latest portfolio includes more than 100 businesses with blended profits in excess of $30 billion. For much more info, be sure to refer to the H.I.G. website at www.higcapital.com.


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PUB: 04/05/2021 01:22 PM/DISC: 04/05/2021 01:22 PM

Copyright Small business Wire 2021.