Gentherm Acquires EMS Provider Etratech


Reading time ( words)

Gentherm, a developer of innovative thermal management technologies, has acquired Etratech Enterprises Inc. for approximately $64 million in an all cash transaction. Based in Burlington, Canada, Etratech specializes in the design, development, and manufacturing of advanced electronic controls and control systems for the automotive, RV and marine, security, medical and other industries. Etratech's capabilities help OEM customers rapidly innovate and bring new technologies to market.

"We believe that growing our existing electronics capabilities is critical to our success in the broad spectrum of markets in which we participate," said Gentherm President and CEO Daniel R. Coker. "The acquisition of Etratech will add new, innovative electronics products and capabilities in our core automotive and medical markets. This will diversify our product portfolio and manufacturing capabilities in new and important areas. We are very excited to add Etratech to an already outstanding electronics business and team."

"Etratech is dedicated to innovation, exceeding customers' expectations and providing total customer satisfaction," said Michael Desnoyers, president and CEO of Etratech. "I believe that with Gentherm, we've found a perfect fit for our global electronics engineering and manufacturing business."

"The Shotgun Fund, as a selling shareholder, board member, and strategy and growth adviser to Etratech is proud to have worked with Michael and the company," said Larry Klar of The Shotgun Fund. "We are confident in Etratech's future success as part of Gentherm."

Etratech's management team will continue to lead the company, which will integrate into Gentherm's Electronics Business Unit. Etratech will continue operations at their headquarters in Burlington, Ontario, Canada, with manufacturing in Canada and China.

Share


Suggested Items

I-Connect007 Research

11/28/2018 | Stephen Las Marias, I-Connect007
In a recent I-Connect007 survey on flex circuits, we asked the following question: What are the major drivers causing you to utilize flex circuits? Here are just a few of the replies, edited slightly for clarity.

Meet Goepel electronic's New Managing Director, Alice Göpel

10/31/2018 | Stephen Las Marias, I-Connect007
In August 2018, Alice Göpel took over the managing director position of Goepel electronic, replacing her father Holger Göpel who had managed the company since 1991. In this interview with SMT007, Alice discusses her career, what inspires her, and her outlook for the industry.

Mexico: A New Hub for Electronics Manufacturing

09/25/2018 | Doug Donahue, VP Business Development, Entrada Group
With its competitive production costs, good logistical access, a skilled and deep talent pool and state-of-the-art technology, Mexico now produces everything from flat-screen televisions to smartphones and other consumer devices employing surface-mount technologies. Here's how Mexico’s strengths in electronics manufacturing services (EMS) evolved, and why more and more electronics manufacturers are moving to the country.



Copyright © 2018 I-Connect007. All rights reserved.