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Resource-constrained CM Acquired
December 31, 1969 |Estimated reading time: 1 minute
NORWALK, Ohio - EPIC Technologies Inc. was acquired by TMW Enterprises and Crawford-Greene LLC. EPIC will join an affiliate network of regional CMs, with approximately 900 employees in the United States and Europe and targeted sales in the $130 million range for 1999.
A $40 million regional CM, EPIC had reportedly been resource constrained and unable to sustain its growth into the next century. Crawford-Greene and TMW, with a 25-year history of acquiring companies and building them into industry leaders, bring the capability to sustain this growth. EPIC executive management will be kept in place to manage ongoing operations and participate in planning the company`s future.
Electronic Product Integration Co. (EPI) was formed as the new holding entity, with plans underway to make additional acquisitions in key geographical locations throughout North America. EPIC and its sister division, Cirmount Circuits Inc., Farmington Hills, Mich., form the cornerstone for the Midwest region.
This regional network is designed to offer customers "one-stop shopping" for prototypes; low-volume, high-mix, high-complexity assemblies; and high-volume, low-mix applications. Complete design and manufacturing services, from product concept, circuit design, PCB layout, packaging, validation and product testing, will be available. These resources are said to allow EPI to take customers from concept through the full production cycle.
Purchasing operations will be centralized to increase buying power from suppliers. The customer base will be diversified to include the telecommunications, automotive, industrial, medical, military/aerospace and consumer markets.