Northstar Sets Sights on Acquisitions
VANCOUVER, BC -- Micro tier EMS firm Northstar Electronics has begun an "aggressive" program to expand topline revenue through strategic acquisitions and organic growth.
Northstar plans to double revenue in 2011 via a combination of targeted acquisitions of private companies in the aerospace and marine industries. It also anticipates continued internal growth. The company did slightly over $4 million in sales in 2010.
Chief executive Dr. Wilson Russell said, "We believe that there are a number of strategic fits within our organization that will enhance our gross profit margins, increase shareholder value and add incremental services that we can provide to our customer base."
The company has targeted two potential acquisitions that would greatly increase current revenues, it said in a press release. Any such transactions would be structured so as to be accretive and non-dilutive on a per-share basis. The company is in current discussions with financial resources utilizing traditional financing methods. It did not disclose the names of the targeted companies.
As of Dec. 31, Northstar had a contract backlog of $11.5 million, including recent deals with Lockheed Martin and L-3.
