H.I.G. Money Completes Acquisition of SMTC Corporation

NEW YORK–(Small business WIRE)–H.I.G. Funds (“H.I.G.”), a top international option investment company with about $43 billion of fairness capital beneath management, is pleased to announce that an affiliate has done the acquisition of SMTC Corporation (“SMTC” or the “Company”). Prior to the transaction, SMTC was publicly mentioned on NASDAQ.

Started in 1985, SMTC Company is a world Electronics Production Companies (“EMS”) provider concentrated on partnering with leading initial machines producers and rising engineering organizations to offer the whole vary of conclusion-to-close EMS companies, from prototyping and design, to production and logistics. SMTC’s diversified operating footprint across the United States and Mexico supports buyers throughout numerous industries, including aerospace and protection, industrial IoT, electrical power, clinical, semiconductors, telecom, communications, and exam and measurement industries.

Edward Smith, President and Chief Executive Officer of SMTC commented, “Over the past 3 many years, SMTC has turn into a international leader between mid-dimensions companies of finish-to-stop EMS by supplying outstanding source chain management and proactive companies and alternatives to an growing foundation of clients. Partnering with H.I.G. will enable us to accelerate our expansion via ongoing financial investment in our clients, abilities, and footprint.”

Smith continued, “This investment decision supplies SMTC Corporation with a extended-phrase lover with an intensive keep track of document of supporting its portfolio corporations with operational know-how, technologies, economical management and M&A knowledge. Jointly, we believe we can capitalize on strategic expansion possibilities, though continuing to satisfy the needs of our shoppers by offering higher-quality, progressive alternatives and solutions.”

Phillip Wooden-Smith, Running Director of H.I.G., commented, “We are happy to spouse with Eddie Smith and his workforce. They have done an outstanding position above the past a few years serving some of the most interesting EMS conclusion markets. With its field-foremost alternatives and potent customer interactions, we imagine there is significant chance to invest in SMTC’s customers and abilities to additional expand the Company’s leadership place. We appear forward to partnering with SMTC’s gifted administration team and workers to serve its consumers with most effective-in-course alternatives, build on its existing ability excellence, and enable SMTC accomplish its comprehensive possible.”

Guggenheim Securities LLC acted as fiscal advisor and Ropes & Gray LLP acted as lawful counsel to H.I.G. on the transaction. Lincoln Intercontinental LLC acted as economic advisor and Perkins Coie LLP acted as lawful counsel to the Firm.

About SMTC Corporation

SMTC Corporation was started in 1985 and obtained MC Assembly Holdings, Inc. in November 2018. SMTC has far more than 50 production and assembly traces in the United States and Mexico which results in a strong reduced-to-medium volume, substantial-mix, conclusion-to-conclusion world electronics manufacturing providers (EMS) supplier. SMTC offers regional support and expanded manufacturing capabilities globally, which includes absolutely integrated deal manufacturing solutions with a focus on international initial gear suppliers and rising engineering firms, like those people in the Avionics, Aerospace and Defense, Industrial IoT, Power and Thoroughly clean Know-how, Professional medical and Protection, Retail and Payment Techniques, Semiconductors, Telecom, Networking and Communications, and Take a look at and Measurement industries. As a mid-dimension company of close-to-finish EMS, SMTC delivers printed circuit board assembly output, devices integration and complete screening expert services, enclosure fabrication, as effectively as item layout, and sustaining engineering and supply chain administration providers. SMTC services extend around the total digital item existence cycle from the improvement and introduction of new merchandise as a result of to the advancement, maturity and conclusion-of-life phases. For even further information on SMTC Company, make sure you take a look at www.smtc.com.

About H.I.G. Capital

H.I.G. is a major international private equity and choice belongings investment decision organization with around $43 billion of equity funds below management.* Primarily based in Miami, and with workplaces in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as properly as worldwide affiliate workplaces in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in giving both of those debt and equity capital to small and mid-sized companies, employing a flexible and operationally targeted/ price-added method. Given that its founding in 1993, H.I.G. has invested in and managed extra than 300 firms all over the world. The firm’s latest portfolio features more than 100 companies with merged profits in extra of $30 billion. For a lot more information and facts, remember to refer to the H.I.G. site at www.higcapital.com.