Jobs saved as electronic assembly firm acquired out of administrationMade News
The jobs of more than 30 people employed at Warwickshire manufacturer SMT Developments have been saved after the company was bought out of administration.
The firm - a member of Made in the Midlands - lapsed into administration in May after incurring losses.
The electronic assembly services business has been acquired by C-MAC, which supplies electronics to the European automotive, aerospace and industrial markets. It also provides system critical electronics for harsh environments and is based in Belgium and Canada.
The terms of the deal have not been disclosed.
It intends to use the business, which has been acquired as a going concern and will be rebranded as C-MAC SMT, to strengthen its position in the UK.
Ken Henderson, CEO of the C-MAC Group, said: “We recognise the valuable reputation and relationships that SMT has established with its customers, as a reliable and trusted Electronics Manufacturing Service provider within the Midlands.
“C-MAC will be investing in the company to build a secure future for the business and for all our employees as part of our strategy to build a greater presence in the UK.”
C-MAC was advised by Leeds-based law firm Walker Morris.
Simon Clark, of Walker Morris, said: “It is always pleasing to successfully complete a transaction which results in preserving jobs. The acquisition is a complementary fit with the C-MAC brand and will provide a great platform for them to expand their European operations.”
Moore Stephens had been acting as administrator following SMT’s collapse.
SMT Developments, which was founded in 2000, provides total turnkey services from electronics assembly prototypes to fully tested total product build, while it also offers solutions in PCB design and layout.
End users range from high-end autosport specialists and the automotive aftermarket to organisations involved in environmental monitoring, retail and the telecommunications sectors.
Pictured are Phil and John Rowley, both of SMT Developments.