|[January 16, 2014]
VirTex Enterprises Expands Footprint in Electronics Manufacturing Services Industry with Acquisition of MTI Electronics
AUSTIN, Texas --(Business Wire)--
VirTex Enterprises LP (http://www.virtexassembly.com/),
a full-service manufacturer of technology-related products, has
announced the acquisition of MTI (News - Alert) Electronics, a similar manufacturer
based in Menomonee Falls, WI, which is a suburb of Milwaukee.
"MTI Electronics' customer base and focus is very complimentary to that
of VirTex," said Brad Heath, the long-time CEO of VirTex. "In MTI, there
is a tremendous opportunity to cross-sell services and leverage the
smart sourcing concept that VirTex has pioneered with its Austin and
Juarez facilities." With the increased geographic footprint, VirTex is
perfectly located to provide electronic assembly services throughout the
Midwest and Southwest regions. This was something the Austin
American-Statesman picked up on in a recent story: http://www.statesman.com/news/business/austin-electronics-maker-buys-wisconsin-manufactur/nchTj/
With the acquisition, which was financed by the Dos Rios Partners and
BBVA Compass (News - Alert) bank, MTI (www.mtielectronics.com)
will become a wholly owned subsidiary and operate as such. "There are no
planned changes to the operating entity or personnel. It's business as
usual for MTI's customers," said Heath.
MTI provides a full range of PCB Assembly, Electronic Assembly, Box (News - Alert)
Build, PCB Prototypes, DFM, Testing Services and other Circuit Board
Assembly Services. It is ISO 9001:2008, ISO 13485:2003 and AS9100C
certified and has been providing turnkey electronic contract
manufacturing services to OEMs since 1978. MTI is also ITAR registered
and RoHS compliant. The company specializes in the Industrial,
Automotive, Defense & Aerospace, Medical and Homeland Security markets.
Where can entrepreneurs find a company that can cost-effectively
manufacture their products?
VirTex, thanks to efficiencies associated with the acquisition, is the
answer. Entrepreneurs now have a highly cost-effective way to
manufacture their products.
"Both companies can learn from one another in terms of operations and
efficiency and are truly best in class performers with the awards and
certifications to prove it," said Heath. "The real winner in this
acquisition will be existing and future customers of VirTex and MTI."
About VirTex Enterprises
Founded in 1999, VirTex offers turnkey solutions including design,
manufacturing supply chain management and fulfillment services. The
company has earned industry accolades for its environmentally conscious
initiatives, such as lead-free manufacturing. VirTex is a member of the
Progressive Manufacturing 100 Hall of Fame and a previous recipient of
Managing Automation magazine's Progressive Manufacturer of the Year.
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