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

9 Ways to Keep Up with Changes in Manufacturing Technology

12/11/2017 | Russell Poppe, JJS Manufacturing
The world of manufacturing technology might not be quite as fast to change as consumer electronics, but it is evolving, and faster than you think. Recent evidence shows that companies are increasingly adopting 'servitized' business models and technology is a key enabler, so falling behind the times is not really an option.

Is Your EMS Provider "The One" for You?

11/30/2017 | Danielle Olivier, JJS Manufacturing
No matter where you are in your outsourcing journey, ensuring that your EMS provider is right for you is one of the most important success factors. The right partner should bring you years of pain-free manufacturing that has the ability to evolve and adapt to your needs as your business grows.

Blockchain for Manufacturing: What are the Opportunities?

11/17/2017 | Neil Sharp, JJS Manufacturing
Blockchain is one of the hottest topics in the tech world, and a buzzword that’s been popping up quite a bit over the last year or so. It is said to have the potential to radically simplify many business processes, by reducing risk and boosting transparency. In the manufacturing world, what are its opportunities?



Copyright © 2017 I-Connect007. All rights reserved.