Artaflex Inc. of Ontario, Canada, has entered into a definitive agreement to acquire Menomonee Falls-based MTI International Inc.
Founded in 1975, MTI, much like Artaflex, operates in the electronics manufacturing systems (EMS) industry and specializes as a full-service provider of high-value, complex, low-to medium-volume assemblies including PCBs, final box build and system integration and to a lesser extent thick film hybrid circuits manufacturing.
The MTI workforce in Menomonee Falls is expected to be retained, according to a company spokesman.
“We are extremely pleased to begin our expansion into the U.S. with the acquisition of MTI. Their focus on manufacturing high-mix, high-reliability products in segments such as defense, aerospace, industrial, automotive and medical, as well as being centrally located in Milwaukee were key factors in our decision-making process,” said Paul Walker, chief executive officer of Artaflex. “Our management team at Artaflex has had significant experience acquiring and growing operations in the U.S. over the past 20 years, and with MTI as a base, we will be able to leverage that combined knowledge again.”
Greg Martinek, president of MTI said, “We are thrilled to join forces with Artaflex and serve as their gateway to the U.S. marketplace. I’ve known Paul for several years and have been very impressed with what he has accomplished in the EMS industry. The similarities between our two organizations are amazing from our customer-centric cultures to business doctrines to our focus on high reliability products. Artaflex is an excellent fit for MTI.”