Quebec capital fund invests $68M in SMT Hautes Technologies
EP&T MagazineElectronics Production / Materials Contract Manufacturing FTQ pcb pcba SMT Hautes Technologies
Fonds de solidarité FTQ becomes a minority shareholder in pcb board maker
Quebec-based development capital fund Fonds de solidarité FTQ has invested $68-million to support the growth of Laval-based SMT Hautes Technologies, becoming a minority shareholder in the company. SMT is a North American leader in electronic printed circuit board manufacturing with cutting-edge plants, using robotics and the integration of artificial intelligence to enable global projects, while competing with Asian markets.
Specializing in the assembly of highly complex electronic and electromechanical pcb assemblies, SMT Hautes Tech operates in the healthcare, defence, automotive, aerospace, telecommunications, mining and entertainment (casinos and giant LED screens) sectors. The company has more than 200 employees and manufactures more than 8 million electronic pcbs annually.
“With its state-of-the-art plants and equipment, SMT Hautes Tech is well positioned to capitalize on the wave of major investments in the North American semiconductor industry and the strong demand for electronic modules,” said Julie Morand, vice-president, private equity and impact investments, industries, at the Fonds de solidarité FTQ. “The expertise and knowledge of Stéphane Deschênes, his management team and employees give the company an edge in the industry.”
This is the Fonds network’s fourth investment in SMT since 2018.
“We’re pleased to be embarking on this partnership with the Fonds de solidarité FTQ. Their support strengthens our position in a growing market and speaks to their confidence in our expertise and our team. We look forward to writing SMT’s next chapter and to continue promoting the technological know-how developed here in Laval on the North American scene,” added Stéphane Deschênes, president, founder and majority shareholder of SMT Hautes Technologies.
In September, SMT Hautes Technologies underwent a major transformation, adopting the name SMT Intelligence.
“This new name symbolizes our commitment to taking up new challenges and stimulating innovation in the electronics technology industry. Guided by core values such as constant learning and continuous improvement, we are determined to take our company to new heights while remaining at the forefront of the industry,” concluded Deschênes.