FTG Completes the Acquisition of Colonial Circuits


Reading time ( words)

Firan Technology Group Corporation has acquired 100% of the outstanding shares of Virginia-based circuit board manufacturer Colonial Circuits, Inc.

Further to the announcement made by FTG on March 29, 2019, FTG has attained the approval from the Committee on Foreign Investment in the United States (CFIUS) and all closing conditions have been met and the acquisition has now closed.

FTG is acquiring the outstanding shares of Colonial for a purchase price of approximately $4M CAD, subject to typical closing adjustments. Colonial has had reported annual sales of $7-9M CAD in its unaudited financial statements over the past few years. The purchase price was paid in cash on closing using funds from FTG’s existing credit facilities.

“FTG had identified a desire to add US manufacturing capacity for standard technology product for aerospace and defense applications. This acquisition accomplishes this and will complement FTG’s existing facilities, adding capacity and new customers,” stated Brad Bourne, President and CEO, FTG Corporation. He added, “Having met the team at Colonial, I am truly thrilled by their skills, dedication and commitment to excellence, and I welcome them all to FTG.”

About Firan Technology Group Corporation

FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe.  FTG has two operating units:

FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards.  Our customers are leaders in the aviation, defense, and high technology industries.  FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, and a joint venture in Tianjin, China.

FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment.   FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China.

Share

Print


Suggested Items

Vertical Conductive Structures, Part 3: Design Tool Techniques

08/23/2019 | Ed Hickey and Mike Catrambone, Cadence Design Systems, and Joan Tourné, Nextgin Technology
New vertical conductive structure (VeCS) technology can reduce layer count and improve signal integrity without the need for sequential technologies. VeCS is different than traditional through-hole vias, microvias, and ELIC designs, which are more expensive and require a high number of laminations, drilling, and plating cycles to build up a reasonable number of layers.

Nano Dimension Details New DragonFly LDM

08/21/2019 | Dan Feinberg, Technology Editor, I-Connect007
Dan Feinberg talks with Nano Dimension CEO Amit Dror about the new DragonFly LDM 3D printer technology announced by the Israeli company on July 24, 2019, aimed at increasing machine uptime and moving forward from prototyping to higher production volumes.

Dissecting the IPC Regional Survey on PCB Technology Trends

07/15/2019 | I-Connect007 Editorial Team
Sharon Starr, Denny Fritz, and Mike Carano talk about the global 2018 IPC Technology Trends Report released early this year—the size of the survey, how it was conducted, the general findings, and regional differences. They also shared their takeaways and regional insights, and the industry outlook over the next five to 10 years.



Copyright © 2019 I-Connect007. All rights reserved.