January 10, 2019
The Company manufactures contacts used in a broad range of applications and critical assemblies for industries such as automotive, aviation, electronics, military and medical devices. In business for many decades, the Company specializes in micro and nano connectors used by OEMs such as Boeing, Airbus, Teledyne, Amphenol, Plantronics and Delphi/Aptiv. The Company has also made inroads into the medical device industry by supplying electronic parts for remote patient monitoring devices and portable imaging systems. Over the past three years, the Company has served 25-26 accounts annually. Revenues consist of stamping (93%), tool and die (3%) and plating (1%).
For 2019, revenue is projected to grow 15% due to two new projects and planned pricing increases. Adjusted EBITDA is expected to decline in 2018 due to the loss of high-margin plating workflow and a one- time retooling project that reduced profit margins. However, EBITDA is expected to return to historic levels in 2019 and 2020 as the Company increases revenue and improves gross margins.