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SMTC Corporation Taken Private by H.I.G. Capital
April 26, 2021 | Lincoln InternationalEstimated reading time: 1 minute
Lincoln International is pleased to announce that SMTC Corporation has been taken private by H.I.G. Capital Lincoln acted as the exclusive investment banking advisor to SMTC, working closely with the Board of Directors and the management team throughout the sale process.
SMTC is a global leader among mid-sized providers of end-to-end electronics manufacturing services (EMS) that partners with global original equipment manufacturers and emerging technology companies, including those in the avionics, aerospace and defense, industrial Internet of Things, power and clean technology, medical and safety, retail and payment systems, semiconductors, telecom, networking and communications and test and measurement industries. With more than 50 manufacturing lines in the United States and Mexico, SMTC manages low-to-medium volume, high-mix with expanded manufacturing capabilities globally, including printed circuit board assembly production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services.
The transaction marks a significant privatization within the EMS sector. Under the terms of the merger agreement, an affiliate of H.I.G. Capital, a leading global alternative investment firm with $42 billion of equity capital under management, has acquired all outstanding shares of SMTC’s common stock for $6.044 per share in cash, which represents a premium of approximately 22% over SMTC’s closing share price on December 31, 2020.
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