Artaflex to Acquire EMS Provider MTI International
Artaflex Inc., a specialist at delivering integrated product solutions and support to the global technology and electronics industry, has entered into a definitive agreement to acquire MTI International, Inc. pursuant to a plan of merger under Delaware laws with an indirect wholly-owned subsidiary of Artaflex.
Located in Milwaukee, Wisconsin and founded in 1975, MTI, much like Artaflex, operates in the EMS industry and specializes as a full service provider of high-value, complex, low-to medium-volume assemblies including PCBs, final box build and system integration and to a lesser extent thick film hybrid circuits manufacturing. MTI focuses on delivering these services to four under penetrated markets: Defense/Aerospace, Industrial, Medical.
"We are extremely pleased to begin our expansion into the U.S. with the acquisition of MTI. Their focus on manufacturing high-mix, high-reliability products in segments such as defense, aerospace, industrial, automotive and medical, as well as being centrally located in Milwaukee were key factors in our decision making process," says Paul Walker, CEO of Artaflex. "Our management team at Artaflex has had significant experience acquiring and growing operations in the U.S. over the past 20 years, and with MTI as a base, we will be able to leverage that combined knowledge again."
Greg Martinek, president of MTI said, "We are thrilled to join forces with Artaflex and serve as their gateway to the U.S. marketplace. I've known Paul for several years and have been very impressed with what he has accomplished in the EMS industry." He added, "The similarities between our two organizations are amazing from our customer-centric cultures to business doctrines to our focus on high reliability products. Artaflex is an excellent fit for MTI." Southwest Securities Inc. of Dallas, Texas, acted as financial advisors to MTI in connection with the acquisition.
About Artaflex
Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete EMS, Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. For more information, visit www.artaflex.com.
About MTI
MTI International, Inc. is a leading provider of electronic manufacturing services to aerospace, defense, medical, industrial, and automotive companies. It provides end-to-end manufacturing solutions from new product introduction through box-build product manufacturing while providing flexibility and support to its customers' operations. For more information, visit www.mtielectronics.com.
