Triton Electronik Inc. acquires Positron Technologies thanks to the Québec Manufacturing Fund – An electronic manufacturing leader takes shape in Canada

The Québec Manufacturing Fund L.P. (QMF), a partnership sponsored by the Caisse de dépôt et placement du Québec, today announced a $12 million investment in Triton Electronik Inc., a provider of electronic contract design and manufacturing (CDM) services. As part of a total injection of $15 million, the QMF investment, was used to acquire the assets of a competitor, Positron Technologies, and to increase the company’s working capital so that it can continue to grow organically and through acquisitions. The resulting entity and synergy will transform Triton Electronik into a Canadian leader among mid-size CDM providers in Eastern North America.

“Coming at a time of growing Asian competition and a strong Canadian dollar, the Triton and Positron merger will create a solid Canadian player with the critical mass required to become a leader among mid-size CDM providers in Eastern North America,” said Claude Couvrette, a partner of the Québec Manufacturing Fund L.P. “The purpose of our investment is to position Triton so it can fully capitalize on this opportunity through organic growth and acquisitions.”

“This marks the beginning of a new phase in the relationship between Triton Electronik and the Caisse. We have had this company in our portfolio since 2003. The increased stake, via the Québec Manufacturing Fund, will improve Triton Electronik's growth outlook,” commented the Caisse's Normand Provost, Executive Vice-President, Private Equity.

For his part, Triton Electronik CEO Daniel Blanche is pleased to welcome the new shareholders and their well-known competencies: “Our team is very happy to welcome QMF’s managers and their multifunctional expertise, particularly in operations,” stated Mr. Blanche. “We are looking forward to working together and expect this contribution to speed up our expansion.”

About Triton Electronik Inc. 

Triton Electronik Inc. is a fast-growing Electronic Contract Design and Manufacturing (CDM) service provider specialized in high-mix printed circuit board assembly to full box build for the aerospace, industrial, telecommunications, transport, medical, security and entertainment sectors. Triton offers a full range of complimentary services from design to prototyping, inventory management, assembly, testing, distribution and after-sales support and repairs.

Founded in 1985, Triton now has approximately 700 employees, over $140 million in annual revenues, and over $250,000 sq. ft. of floor space.  Its operations are spread across four manufacturing facilities located in the Montreal (Quebec) and Kitchener (Ontario) regions. For more information, visit: www.triton-electronik.com.

About the Québec Manufacturing Fund L.P.

The $100-million Québec Manufacturing Fund L.P., sponsored by the Caisse de dépôt et placement du Québec, is an investment partnership that has a mandate to identify profitable Québec manufacturing companies that present attractive business opportunities and have the potential to quickly make significant improvements to their operations. The QMF combines the financial expertise of the Caisse de dépôt et placement du Québec with the operational expertise of three experienced managers. The Fund assists entrepreneurs in Québec’s manufacturing sector with their projects by providing financing and expertise for business development, operations management and financial management.