Nortech to acquire Winland EMS assets
Nortech Systems Inc. a provider of full-service electronics manufacturing services, has agreed to acquire the EMS assets of Winland Electronics Inc. in Mankato, Minn.
Winland's EMS operation designs and manufactures printed circuit board assemblies and higher-level complete box build assemblies, primarily for original equipment manufacturers in markets including medical, industrial, transportation and scientific instrumentation.
Nortech Systems will purchase the assets and intellectual property associated with Winland's EMS operation. Nortech will lease the 58,000-square-foot facility, which houses manufacturing, warehouse and office space.
The tentative closing date is Jan. 1. Terms of the purchase were not disclosed.
"We're pleased to expand our world-class manufacturing capabilities, including adding valuable new capacity for printed circuit board assemblies," said Mike Degen, Nortech Systems' president and CEO. "Winland had developed a reputation for excellence in design and manufacturing, and together we'll advance that success going forward."
Degen said Nortech Systems intends to continue operations in Mankato. He anticipates the acquisition will be accretive starting in the second half of fiscal 2011.
"Winland's existing customer base nicely complements ours, offering further diversification and additional growth opportunities," said Curt Steichen, senior vice president of Nortech Systems' commercial operations. He added that the Winland operation will provide needed EMS capacity to support the growth Nortech Systems is experiencing in its industrial and medical markets.
Nortech Systems currently operates manufacturing facilities in Baxter, Bemidji, Blue Earth, Merrifield and Milaca, Minn.; Augusta, Wis.; and Monterrey, Mexico.