VANCOUVER (CP) - Creation Technologies, a privately owned Vancouver electronics manufacturer, has acquired SMC Inc. of Lexington, Ky., and closed the purchase of Taytronics Inc. of Saint Peter, Minn.
Financial terms of the acquisitions, announced Wednesday, were not revealed.
However, the deals come after Creation received $65 million in equity funding in June from Birch Hill Equity Partners, a Toronto-based company with $1.7 billion in capital under management which invests in mid-market companies.
At the time of the equity infusion, Birch Hill said its investment in Creation ''represents the best investment opportunity in the growing North American mid-tier (electronics manufacturing services) market given its strong value proposition to customers, unique business model, culture and core values, attractive acquisition opportunities and excellent financial performance.''
SMC, in business for 13 years, employs 325 people. Taytronics, with 125 people, has provided electronics manufacturing services in Minnesota and Wisconsin since 1990 and employs 125 people.
The companies are the fourth and fifth acquisitions Creation has made in the last four years.
''These companies fit well with Creation's current businesses, as both have cultures, leadership styles, people skills and experiences, service and technical capabilities, profit momentum and revenue growth opportunities that match ours,'' said Arthur Tymos, president and CEO of Creation.
Also, these acquisitions provide Creation with the additional North American footprint we need to support and grow our customer base.''
Creation Technologies makes electronics for customers in the industrial controls, instrumentation, medical, wireless and other communications, security, aerospace and transportation markets.
The latest acquisitions expand the company's workforce to 1,800 employees at operations in British Columbia, California, Texas, Minnesota, Wisconsin, Kentucky and Ontario.