ATLANTA – Prime Technological Services has acquired I Technical Services for an undisclosed sum.
"The acquisition of ITS is strategic in nature, as it further enhances Prime's ability to add greater depth to our vertically integrated services model, while broadening the company's resources in key areas of the business,” said president and CEO Greg Chesnutt. “Prime gains additional manufacturing and service capacity, expansion of our customer base into additional geographic and vertical markets, additive equipment and technical capability and the benefits of greater scale, scope and diversification. We remain committed to investing in those capabilities and services offerings that will prove beneficial to our customers in the end markets they serve."
"I am excited ITS has joined the Prime Technological Services team,” said Mike Thompson, president and CEO of ITS. “The combined company has strong operational, technical and financial resources for continued growth, innovation, and expansion of service offerings to our customers. The companies' shared commitment to values, customer centricity and team member development were key drivers of the decision to join forces."
Thompson will continue to work with Prime as a strategic advisor to leadership and the board.
"The ITS acquisition further demonstrates our commitment to enhance our vertical service offering for current and prospective customers," said Joe Litavis, chief sales and marketing officer of Prime. "A terrific combination, ITS is a full-service electronics manufacturing services provider of printed circuit board assemblies and higher-level complete box-build services. ITS offers quick-turn prototype and new product introduction capabilities, along with extensive testing capabilities and after-market services. This will really resonate with customers in our targeted aerospace, defense, medical, industrial and communications markets throughout the US."
In January, Prime announced it had also acquired TeligentEMS.