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NATEL and OnCore Manufacturing Announce Merger Agreement

Jun 12, 2015

CHATSWORTH & FREMONT, CALIFORNIA (March 30, 2015) -  NATEL Engineering Company, Inc. (NATEL) and OnCore Manufacturing, LLC (OnCore), both global suppliers of electronic manufacturing services (EMS), announced today that an agreement has been signed to merge the two firms. The merger will create a new EMS company with an expansive array of capabilities and  an expanded manufacturing and technology portfolio to service critical customer needs. 

The combined company will be one of North America’s largest Electronic Manufacturing Service companies building high-reliability low-to-medium volume and high-mix electronic subassemblies and systems with strategic market focus on the Medical, Industrial and Aerospace and Defense sectors. The new organization will have13 manufacturing locations, approximately 3,750 employees,  and annual revenue of approximately $770 million.

“This is a compelling strategic combination that creates a market-focused leader in the high-reliability mid-tier EMS space. The merger of OnCore and NATEL provides an excellent value for our customers and exciting new opportunities for all employees,” stated Sudesh Arora, NATEL President and Chief Executive Officer.

“Both NATEL and OnCore have pursued successful strategies to grow their respective businesses and we are excited to bring these two companies together. We are highly complementary organizations and our combined value proposition will deliver competitive advantages for our customers,” stated Sajjad Malik, OnCore Chief Executive Officer. 

Best in Class Solutions

NATEL is recognized as America’s largest, most experienced private manufacturer of microelectronics for mission-critical high-reliability applications including large format lithium ion (Li-ion) assemblies for the International Space Station. NATEL is at the forefront of operational excellence and LEAN manufacturing practices in both its microelectronic and EMS solutions.  OnCore’s full product life-cycle engineering services and robust processes and systems for the production of complex and highly regulated products are keys to its customer success.  The combined company will offer a unique set of capabilities delivering vertically integrated engineering and manufacturing solutions to the Medical, Industrial and Aerospace and Defense markets with a North American footprint in corridors of innovation and manufacturing options in low-cost regions.

The transaction is expected to close before the end of April 2015.  Financing for the transaction was provided through a fully underwritten commitment from Goldman Sachs Bank USA and GE Capital Corporation. B. Riley & Co., LLC acted as financial advisor for NATEL, and Lincoln International acted as financial advisor for OnCore.

About OnCore

OnCore Manufacturing, LLC is a leading provider of product commercialization services for low-medium volume, high-complexity products to international blue-chip aerospace and defense, industrial, and medical companies. With manufacturing facilities in Springfield and Wilmington, MA, Longmont, CO, San Marcos and Fremont, CA, Suzhou, China and Tijuana, Mexico, OnCore manages customers’ high-complexity products while providing them maximum flexibility to manage their business in a close, collaborative relationship.  More information is available at www.oncorems.com.  OnCore is an equal opportunity employer.

About NATEL

NATEL is a major independent manufacturer of a wide variety of electronic products, providing high mix, low-to-mid volume production for its customers. As one of the largest and oldest privately held EMS companies in the U.S., NATEL is known for solving tough engineering problems that result in high-reliability, high-quality electronics for customers in the medical, aerospace and defense, and industrial markets. NATEL is favorably positioned among mid-tier EMS manufacturers to “make amazing things happen.” NATEL holds and maintains industry-specific certifications that include AS9100, ISO 13485, and ISO/TS 16949. Its MIL-PRF-38534 (DSCC) Class H and K certifications certify NATEL’s expertise in designing and manufacturing microelectronic assemblies for space and mission-critical defense programs placing it in an elite group of defense and aerospace industry manufacturers. NATEL, headquartered in Chatsworth, CA, has manufacturing locations in California, Nevada, Ohio and Mexico. To learn more, visit www.NatelEMS.com or Twitter, @NATEL. NATEL is an equal opportunity employer.

Media Contacts:

Steve Heinzen
OnCore VP Marketing
steve.heinzen@oncorems.com
510-933-6065

Jonathan Davis
NATEL VP of Corporate Development
jdavis@natelems.com
818-734-6559

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