Mission, KS-based LTI, a leading manufacturer of precision glass-to-metal seals, has acquired Remtec, Inc., a leading manufacturer of ceramic substrates, packages and submounts based on proprietary PCTF® technology.
Remtec provides custom and semi-custom packaging solutions for electronic products in broad frequency and power ranges, optoelectronics and other high-density circuitry in commercial, industrial and military industries. Its proprietary technology is very difficult to replicate. The company serves customers in telecommunications, medical electronics, aerospace and defense. Its high-performing, highly reliable products are targeted to high-, medium- and low-volume applications that are sold in North America and exported to Europe and Asia.
Recently celebrating its 25th anniversary, Remtec technologies have become the foundation for product innovation as the company strives for continuous development and advancement. As a result of broadening product lines and rapid sales growth, Remtec moved to a new manufacturing site in 1999, acquired a plating company and installed a fully automatic screen printing line. Today, Remtec is a fully integrated design and manufacturing company with state-of-the-art equipment.
LTI is a major player in the glass-to-metal hermetic seal industry, specializing in telecom, aerospace, defense and medical applications. LTI’s unique vertical integration, which includes metal stamping, plating and specialty secondary operations, makes it the industry’s most diverse glass-to-metal seal operation. With more than 40 years of operations, LTI moved into its custom designed, state-of-the-art facility in 2009.
“LTI’s worldwide customer base demands and expects high reliability products at competitive prices,” Diggett said. “The addition of Remtec will poise both companies for continued success. Remtec and LTI employees and management teams will not change as a result of this combination. Operations will continue, as they have, from the same facilities. Customers will interact with the same sales professionals. More capabilities due to our combined resources and engineering knowledge will result in continuing product innovation and superior customer service levels.”
Remtec President Nahum Rapoport said, “The acquisition creates a synergetic partnership between ceramic and glass-to-metal packaging companies who can now share their engineering expertise and manufacturing capabilities, as well as join marketing and sales strategies. The Remtec management team is excited about this new chapter in our history. Both companies address similar markets and customers that should greatly help in continuing product enhancements and development.”
To fund the transaction, LTI invested from its cash reserves, along with capital from its investment partners Konza Valley Capital, Inc., MidStates Capital Fund II, LP and Capital for Business®.