Dan’s Biz Bookshelf: ‘In Defense of a Liberal Education’
American Made Advocacy: A Growing Presence in Washington in Turbulent Times
FTG Completes the Acquisitions of Holaday Circuits and IMI Inc.
May 8, 2023 | Globe NewswireEstimated reading time: 1 minute
Firan Technology Group Corporation announced it has acquired 100% of Minnesota based Holaday Circuits and 100% of Massachusetts based IMI Inc.
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.”
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Mobix Labs Secures Surge of High-Value Defense Orders, Igniting Growth in its Filter Interconnect Products
07/23/2025 | BUSINESS WIREMobix Labs, Inc., a leading innovator of advanced connectivity and electromagnetic interference (EMI) filtering technology, announced significant quarter-over-quarter revenue growth in its filter and interconnect products, powered by strong customer demand and major wins across mission-critical defense and aerospace programs.
NEOTech’s Westborough Facility Achieves AS9100 Surveillance Audit, Reinforcing Trust with Aerospace & Defense Customers
07/22/2025 | NEOTechNEOTech, a premier provider of electronic manufacturing services (EMS), integrated design engineering, and advanced supply chain solutions for the aerospace and defense, medical device, and high-tech industrial markets, proudly announces that its Westborough, Massachusetts facility has successfully completed the rigorous AS9100 Bi-Annual Surveillance Audit with zero findings, a testament to the company’s unwavering commitment to quality, security, and operational excellence.
TT Electronics Secures Multi-Million-Pound Defense Contract with Ultra PCS
07/18/2025 | TT ElectronicsTT Electronics, a leading provider of global manufacturing solutions and engineered technologies, announced that it has been awarded a significant new contract with long-standing customer Ultra PCS Ltd (Ultra Precision Control Systems).
NEOTech’s Agave 1 Facility Earns AS9100 Certification for Commercial Aerospace Manufacturing Excellence
07/17/2025 | NEOTechNEOTech, a premier provider of electronic manufacturing services (EMS), integrated design engineering, and advanced supply chain solutions for the aerospace and defense, medical device, and high-tech industrial markets, proudly announces that its Agave 1 manufacturing facility in Juarez, Mexico has officially received AS9100 certification.
Federal Electronics Invests in HydroJet Inline Cleaning Technology at Hermosillo Facility
07/15/2025 | Federal ElectronicsFederal Electronics, a leader in providing advanced electronic manufacturing services, has strengthened the advanced cleaning capabilities of its Hermosillo, Mexico facility with the recent installation of a HydroJet Inline Cleaner from Austin American Technology (AAT).