Anaheim, CA, July 2020
Summit Interconnect (“Summit”), backed by HCI Equity Partners, announced it acquired Integrated Technology Ltd. (“ITL Circuits” or “ITL” or the “Company”) on July 24, 2020. Summit is a manufacturer of advanced technology printed circuit boards with a specific focus on complex rigid and rigid-flex product. The acquisition of ITL provides the Summit platform with cross-selling opportunities and enhanced scale. ITL is the third company to join the platform following HCI’s initial investment in Summit. Financial terms of the transaction were not disclosed.
Established in 1971 and located in Toronto, Canada, ITL Circuits is one of North America’s leading providers of printed circuit boards. The oldest and largest privately held PCB manufacturer in Canada, ITL Circuits provides a significant expansion of Summit’s operations in North America.
ITL Circuits has a long track record of servicing military programs for the Canadian Department of National Defense (DND), Australian Defense Force (ADF), and United States DOD. The Company also provides products for other aerospace and defense, medical, and commercial end markets.
Shane Whiteside, President and CEO of Summit Interconnect, Inc. stated, “ITL’s capabilities complement Summit’s and will provide additional volume manufacturing capacity across a broad range of technology. The additional and meaningful scale will further strengthen our ability to serve our customers and broaden our relationships with key suppliers. This is very exciting news for both Summit and ITL and we welcome our new Toronto employees to the Summit team.”
Doug McCormick, HCI Equity Managing Partner commented, “ITL provides Summit with an attractive customer roster, capabilities and capacity to serve the rapidly growing advanced technology market of North America. We are very pleased with the strong momentum and recognition Summit is achieving in the market.”
McDermott, Will & Emery served as legal counsel to Summit. Firepower Capital served as the financial advisor to ITL Circuits.
About Summit Interconnect
Summit Interconnect is a leading manufacturer of advanced technology printed circuit boards. Manufacturing services include quick turn, prototype and production through our advanced technology facilities located in California and Toronto, Canada. For more information, please visit www.summit-pcb.com.