M&A Deal Summary

SMTC Acquires MC Assembly

On November 9, 2018, SMTC acquired electronics company MC Assembly from Cyprium Partners, Monroe Capital and South Franklin Street Partners for 65M USD

Acquisition Highlights
  • This is SMTC’s 1st transaction in the Electronics sector.
  • This is SMTC’s largest (disclosed) transaction.
  • This is SMTC’s 2nd transaction in the United States.
  • This is SMTC’s 1st transaction in Florida.

M&A Deal Summary
Date 2018-11-09
Target MC Assembly
Sector Electronics
Buyer(s) SMTC
Sellers(s) Cyprium Partners
Monroe Capital
South Franklin Street Partners
Deal Type Add-on Acquisition
Deal Value 65M USD
Advisor(s) BakerHostetler (Legal)

Target

MC Assembly

Palm Bay, Florida, United States
MC Assembly is a provider of electronic manufacturing services to the medical, gaming, industrial, computer and telecommunications industries. Based in Melbourne, FL, MC’s primary focus is low to medium volume, medium-high mix printed circuit board assembly, with an emphasis on high material content printed circuit boards. MC Assembly was founded in 1984 and is based in Palm Bay, Florida.

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Buyer(S) 1

Buyer

SMTC

Markham, Ontario, Canada
Category Company
Founded 1985
Sector Electronics
Employees2,616
Revenue 372M USD (2019)
DESCRIPTION

SMTC is a provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration, and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering, and supply chain management services. SMTC was founded in 1985 and is based in Markham, Canada.

DEAL STATS #
Overall 2 of 2
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 ZF Array Technology

San Jose, California, United States

ZF Array Technology, Inc. is a manufacturing complex electronics equipment and providing systems integration services.

Buy $9M

Seller(S) 3

SELLER

Cyprium Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Cyprium Partners is a private investment firm that provides mezzanine and equity capital to profitable, middle-market companies. The Firm will consider both non-control and control positions in businesses with revenue of $50 to $300 million and at least $8 million of EBITDA. Sectors of interest include traditional industries such as manufacturing, distribution, and services. Cyprium avoids investments in financial services, real estate, energy, commodities, natural resources, restaurants, long-term care and healthcare companies. Cyprium was formerly known as Key Principal Partners. The Firm has offices in Cleveland, Ohio and New York City.

DEAL STATS #
Overall 28 of 28
Sector (Electronics) 2 of 2
Type (Add-on Acquisition) 11 of 11
State (Florida) 1 of 1
Country (United States) 27 of 27
Year (2018) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-13 Backyard Products

Monroe, Michigan, United States

Backyard Products is a designer, manufacturer, and marketer of ready-to-assemble and installed wood-based storage buildings and other outdoor structures. Its product lines include storage buildings and accessories, gazebos, playhouses, and playsets. Backyard Products was founded in 1975 and is based in Monroe, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Arbor Carpet

Irving, Texas, United States

Arbor Carpet is a provider of flooring and installation services to the multifamily housing industry from its twelve locations in Texas, Florida, Colorado, California, and Nevada. Arbor Carpet was founded in 1982 and is based in Irving, Texas.

Buy -
SELLER

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago.

DEAL STATS #
Overall 28 of 53
Sector (Electronics) 2 of 2
Type (Add-on Acquisition) 15 of 27
State (Florida) 1 of 2
Country (United States) 28 of 53
Year (2018) 5 of 6
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-11 Vereco

Mission Viejo, California, United States

Vereco is a national healthcare company that creates and manages document services programs for hospitals and healthcare systems. Through its teams of fulltime on-site personnel, Vereco on a daily basis manages and optimizes a hospital’s print environment, from vendor management to helping hospital staff with all their print workflow and related needs. Vereco was founded in 2011 and is based in Mission Viejo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Venture Technologies

Ridgeland, Mississippi, United States

Venture Technologies, Inc. is an IT solutions provider that delivers infrastructure solutions, collaboration solutions, and cloud-based services to both private and public sector organizations. Venture Technologies also owns and operates certified Data Centers (VTCloud) across the United States from which it provides a comprehensive suite of cloud services to thousands of domestic and international customers. Venture Technologies was founded in 1986 and is based in Ridgeland, Mississippi.

Sell -
SELLER

South Franklin Street Partners

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 3 of 4
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Florida) 1 of 1
Country (United States) 3 of 4
Year (2018) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-09 Hedwin

Baltimore, Maryland, United States

Hedwin Corporation designs, manufacturers and markets high-performance, specialty-industrial containers and liner products sold to the chemical, medical products, institutional food, agricultural, photochemical and sanitary industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-31 Swiss-Tech

Delavan, Wisconsin, United States

Swiss-Tech is a niche manufacturer of low-volume, highly engineered, small, precision-machined parts for the aerospace, medical, fluid power, and industrial markets. Swiss-Tech was founded in 1965 and is based in Delavan, Wisconsin.

Sell -
Mergr

Product

Company

Legal