Summit Interconnect, Inc. Acquires Integrated Technology Ltd. (ITL Circuits)
FirePower advised ITL Circuits on its sale to Summit Interconnect. The original press release can be read here.
July 29, 2020, Anaheim, CA – Summit Interconnect, Inc. is pleased to announce the acquisition of ITL Circuits.
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 is AS9100, NADCAP and MIL-PRF 31032 certified and has a long history of servicing military programs for the Canadian Department of National Defense (DND) prime contractors and Australian Defense Force (ADF) primes. ITL Circuits is also a long time supplier to the United States DOD prime contractors under U.S. ITAR 126.5 under the Canadian Controlled Goods (CGP) exemption.
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.”
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 go to summit-pcb.com
About ITL Circuits: ITL Circuits is one of North America’s leading providers of printed circuit board fabrication services. Established in 1971, ITL Circuits is highly certified and is the oldest and largest privately held PCB manufacturer in Canada. ITL Circuits serves both original equipment manufacturers (OEM) and electronic manufacturing services (EMS) companies with advanced technology prototype and production PCB’s around the globe. For more information, please go to: itlcircuits.com
GrowthGenius is an AI-assisted sales prospecting service provider for B2B businesses, based in Toronto. The company needed financing to fund its rapid expansion. Raising equity was unappealing because of the high cost of dilution, so the founders sought out a debt solution. After meeting with multiple lenders, they selected FirePower, whose efforts to get to know the founders, understand the business, and tailor a loan structure that worked for the company and its owners proved to be the difference.