© mariusz-szachowski-dreamstime.com Electronics Production | March 26, 2013
Probe Manufacturing acquire Trident Manufacturing
Probe Manufacturing announces it has completed the acquisition of Trident Manufacturing, a full-service electronics manufacturing service company based in Salt Lake City, Utah.
The acquisition includes 100% ownership interest of Trident Manufacturing and its operational assets. Trident Manufacturing had revenues of approximately USD 3 million in 2012 and has been servicing the industrial, aerospace, military, instrumentation, and medical markets since 2005. PMI’s management currently expects the transaction to be accretive to Probe's 2013 earnings and believes that the revenue opportunities, cost synergies and scalability that can be realized from the acquisition should exponentially accelerate PMI’s growth, the company writes in a statement. Kam Mahdi, President and CEO of PMI, said, "This acquisition meets several of our long and short-term strategic objectives which ultimately reinforce our strategy of providing a low-cost, scalable model for small to mid-size OEMs that allows them to manufacture right here in the US and avoid the myriad of problems and costs now being experienced with offshoring." Mahdi added that "Throughout the transition, customers will remain our top priority and we look forward to working with our new customers, employees and suppliers and are committed to achieving a smooth transition." Dennis Davis, Chief Executive Officer of Trident Manufacturing, Inc., said, "PMI’s supply chain expertise, management systems, engineering and manufacturing capabilities will provide great benefits and opportunities to our customers whereby we will now be able to deliver the end-to-end solutions, speed and scalability they need."