Prime Technological Services acquire ITS

Founded in 2003, ITS provides PCBs, assemblies, and other electrical and electronic products for OEMs in commercial, industrial, aerospace, medical and military market segments. Company founder Mike Thompson will remain as a strategic advisor to the Prime leadership and board of directors, according to a press release announcing the sale. Prime President and CEO Greg Chestnutt said, "The acquisition of ITS is strategic in nature as it further enhances Prime's ability to add greater depth to our vertically integrated services model while broadening the Company's resources in key areas of the business. Prime gains additional manufacturing and service capacity, expansion of our customer base into additional geographic and vertical markets, additive equipment and technical capability and the benefits of greater scale, scope and diversification. We remain committed to investing in those capabilities and services offerings that will prove beneficial to our customers in the end markets which they serve.” Financial terms of the sale were not disclosed. Prime Technological Services LLC is a private company founded in 1989 and headquartered in Suwanee, Georgia.