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© tamas ambrits dreamstime.com Components | November 12, 2018

SMTC acquires MC Assembly Holdings

SMTC has acquired all outstanding shares of MC Assembly. The purchase price at closing was $65 million, subject to certain adjustments.
Additionally, the sellers are eligible to earn up to an additional $5 million of consideration, contingent upon the performance of MC Assembly for the twelve calendar months ending March 31, 2019.

“We are excited to announce the acquisition of MC Assembly which unites two highly complementary EMS companies. This accretive acquisition provides the opportunity to create significant value for our shareholders and offers strong benefits for customers of both companies," said Ed Smith SMTC’s Chief Executive Officer, who will continue in that role of the combined company, a press release states.

“SMTC and MC Assembly have a common mission, which is to build a world class EMS company that puts customers first. We intend to build upon our respective strengths to drive growth and efficiencies at our facilities from our complementary and diversified customer bases,” stated MC Assembly’s President and Chief Executive Officer George Moore.

The combined company will operate under the name SMTC Corporation and currently plans to continue to operate and maintain the existing facilities operated by each company.
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December 13 2018 1:08 pm V11.10.14-1