IRVINE, CA-(BUSINESS WIRE) -
Probe Manufacturing, Inc., (“PMI”) (PMFI), announced it has completed the acquisition of Trident Manufacturing, Inc., a full-service electronics manufacturing service company based in Salt Lake City, Utah. The acquisition includes 100% ownership interest of Trident Manufacturing and its operational assets. Trident Manufacturing had revenues of approximately $3 million in 2012 and has been servicing the industrial, aerospace, military, instrumentation, and medical markets since 2005.
PMI’s management currently expects the transaction to be accretive to Probe's 2013 earnings and believes that the revenue opportunities, cost synergies and scalability that can be realized from the acquisition should exponentially accelerate PMI’s growth. This acquisition and future acquisitions like this will provide PMI with an expanded presence in lower cost regions of the US; strengthen PMI’s supply chain performance while increasing service levels and profitability; provides an additional 16,000 sq. ft. of manufacturing capacity and value-added cable and harness offerings through Trident’s facility and ultimately enhance PMI’s capacity to deliver seamless end-to-end solutions for diversified markets from manufacturing to distribution.
Kam Mahdi, President and CEO of PMI, said, "This acquisition meets several of our long and short-term strategic objectives which ultimately reinforce our strategy of providing a low-cost, scalable model for small to mid-size OEMs that allows them to manufacture right here in the US and avoid the myriad of problems and costs now being experienced with offshoring." Mahdi added that "Throughout the transition, customers will remain our top priority and we look forward to working with our new customers, employees and suppliers and are committed to achieving a smooth transition."
Dennis Davis, Chief Executive Officer of Trident Manufacturing, Inc., said, "PMI’s supply chain expertise, management systems, engineering and manufacturing capabilities will provide great benefits and opportunities to our customers whereby we will now be able to deliver the end-to-end solutions, speed and scalability they need."
About Probe Manufacturing, Inc.
Probe Manufacturing is a global electronics design & manufacturing services company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe’s common stock is traded on the OTC Market QB under the symbol PMFI. Further information is available on Probe’s website: www.probeglobal.com.