Further to the previous announcements made by FTG regarding these acquisitions, FTG has now attained the approval from the Committee on Foreign Investment in the United States (CFIUS) and all closing conditions have been met and both acquisitions are now closed.

The IMI acquisition bolsters FTG presence in RF circuit boards for the Aerospace and Defense market. The RF market is growing, and IMI’s specialized capabilities will enable FTG to better address this market segment and support our customers’needs.

The Holaday Circuits acquisition gives FTG a large, US based facility that can address the market for high technology circuit boards, particularly for defense applications which will again enable us to better support our customers.

Combined, the acquisitions had sales of about $45 million pre pandemic. The combined purchase prices are approximately $27M and the Holaday agreement also has an earn out of up to approximately $6M depending on financial performance over the next 18 months. The acquisitions will be funded primarily from existing cash and bank facilities will be used for remaining balance.

“FTG had identified a desire to add US manufacturing capacity for RF and high technology product for aerospace and defense applications. These acquisitions accomplish this and will complement FTG’s existing capabilities and locations,” stated Brad Bourne President and CEO, FTG Corporation. He added, “Having met the teams at IMI and Holaday Circuits, 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, Minnetonka, Minnesota, Haverhill, Massachusetts, 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, and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.

ABOUT Holaday Circuits

Founded in 1966, Holaday Circuits is dedicated exclusively to the production of the highest quality Printed Circuit Boards.  Holaday’s 110,000 square foot facility is located in Minnetonka, Minnesota.  Our Printed Circuit Boards are used extensively in the Aerospace, Military, and Electronics industries.

ABOUT IMI Inc. 

Since 1971 – for 50 years!

IMI Inc. has been a leader in the fabrication of specialized RF/microwave, mixed dielectric/hybrid substrates, as well as of specialty printed circuit boards. Our expertise is producing up to 20 layer product on PTFE, Ceramic and FR-4 based laminates (or mixed dielectric builds). In addition to RF/Microwave, we are experienced in, and fiercely committed to, supporting the Aerospace, Military, Medical, Industrial and Telecommunications Markets.

IMI Inc.  typically can:

Produce up to 20 layers on materials as thin as one mil and as thick as .125

Routinely handle lines and traces as tight as .003 with drilled hole sizes as small as .007

Blind and Burried vias, sequential lamination even with mixed construction.

Laminate and plate virtually any material including:

• PTFE/Duroid®(GT,GX,GY,GR)

• Ceramic Filled

• Polyimide and

• FR-4 (all variations) to name just a few.

Surface finishes include reflow, HASL, lead-free HASL, tin, hard gold, soft gold, ENIG, and silver.