NEW YORK — (BUSINESS WIRE) — April 5, 2021 — Founded in 1985, SMTC Corporation is a global Electronics Manufacturing Services (“EMS”) provider focused on partnering with leading original equipment manufacturers and emerging technology companies to provide the full range of end-to-end EMS services, from prototyping and design, to manufacturing and logistics. SMTC’s diversified operating footprint across the United States and Mexico supports customers across multiple industries, including aerospace and defense, industrial IoT, power, medical, semiconductors, telecom, communications, and test and measurement industries.

Edward Smith, President and Chief Executive Officer of SMTC commented, “Over the past three years, SMTC has become a global leader among mid-size providers of end-to-end EMS by offering superior supply chain management and proactive services and solutions to an expanding base of customers. Partnering with H.I.G. will enable us to accelerate our growth through continued investment in our customers, capabilities, and footprint.”

Smith continued, “This investment provides SMTC Corporation with a long-term partner with an extensive track record of supporting its portfolio companies with operational expertise, technology, financial management and M&A experience. Together, we believe we can capitalize on strategic growth opportunities, while continuing to meet the needs of our customers by delivering high-quality, innovative solutions and services.”

Phillip Wood-Smith, Managing Director of H.I.G., commented, “We are pleased to partner with Eddie Smith and his team. They have done an outstanding job over the past three years serving some of the most attractive EMS end markets. With its industry-leading solutions and strong customer relationships, we believe there is significant opportunity to invest in SMTC’s customers and capabilities to further expand the Company’s leadership position. We look forward to partnering with SMTC’s talented management team and employees to serve its customers with best-in-class solutions, build upon its existing capability excellence, and help SMTC achieve its full potential.”

Guggenheim Securities LLC acted as financial advisor and Ropes & Gray LLP acted as legal counsel to H.I.G. on the transaction. Lincoln International LLC acted as financial advisor and Perkins Coie LLP acted as legal counsel to the Company.

About SMTC Corporation

SMTC Corporation was founded in 1985 and acquired MC Assembly Holdings, Inc. in November 2018. SMTC has more than 50 manufacturing and assembly lines in the United States and Mexico which creates a powerful low-to-medium volume, high-mix, end-to-end global electronics manufacturing services (EMS) provider. SMTC boasts local support and expanded manufacturing capabilities globally, including fully integrated contract manufacturing services with a focus on global original equipment manufacturers and emerging technology companies, including those in the Avionics, Aerospace and Defense, Industrial IoT, Power and Clean Technology, Medical and Safety, Retail and Payment Systems, Semiconductors, Telecom, Networking and Communications, and Test and Measurement industries. As a mid-size provider of end-to-end EMS, SMTC provides printed circuit board assembly production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, and sustaining engineering and supply chain management services. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. For further information on SMTC Corporation, please visit www.smtc.com.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with over $43 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

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H.I.G. Capital
Phillip Wood-Smith
Managing Director
pwoodsmith@higcapital.com
P: 212.506.0500
F: 212.506.0559
www.higcapital.com