LAVAL, QC, Nov. 3, 2023 /CNW/ - The Fonds de solidarité FTQ is investing $68 million to support the growth of Laval-based SMT Hautes Technologies, becoming a minority shareholder in the company. SMT is a North American leader in electronic circuit manufacturing with cutting-edge plants where innovation in robotics and the integration of artificial intelligence enable it to carry out global projects and compete with Asian markets. Specializing in the assembly of highly complex electronic and electromechanical circuits, SMT operates in the healthcare, defence, automotive, aerospace, telecommunications, mining and entertainment (casinos and giant LED screens) sectors. The company has over 200 employees and manufactures more than 8 million electronic circuits annually.
This is the Fonds network's fourth investment in SMT. The Fonds régionaux de solidarité FTQ Laval has supported the company three times since 2018.
"With its state-of-the-art plants and equipment, SMT is well positioned to capitalize on the wave of major investments in the North American semiconductor industry and the strong demand for electronic modules," said Julie Morand, Vice-President, Private Equity and Impact Investments, Industries, at the Fonds de solidarité FTQ. "The expertise and knowledge of Stéphane Deschênes, his management team and employees give the company an edge in the industry."
"We're pleased to be embarking on this partnership with the Fonds de solidarité FTQ. Their support strengthens our position in a growing market and speaks to their confidence in our expertise and our team. We look forward to writing SMT's next chapter and to continue promoting the technological know-how developed here in Laval on the North American scene," said Stéphane Deschênes, president, founder and majority shareholder of SMT Hautes Technologies.
"The Fonds régionaux de solidarité FTQ Laval have been at SMT's side as it has taken off in the last few years. We are pleased that the company has once again placed its trust in the Fonds network so that technological expertise developed here in Québec can continue to expand in the global marketplace," said Éric Dargis, Regional Vice-President, Fonds régionaux de solidarité FTQ ? Laval.
In September, SMT Hautes Technologies underwent a major transformation, adopting the name SMT Intelligence. "This new name symbolizes our commitment to taking up new challenges and stimulating innovation in the electronics technology industry. Guided by core values such as constant learning and continuous improvement, we are determined to take our company to new heights while remaining at the forefront of the industry," concluded Stéphane Deschênes.
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 765,721 shareholders.
With net assets of $18.4 billion as at May 31, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.
Founded 23 years ago, SMT Intelligence excels in tailor-made electronics manufacturing, from prototyping to mass production. It transforms the technologies of tomorrow, offering turnkey solutions such as engineering to support the product development cycle and setting up highly robotized mechanical assembly plants. The Québec company has 3 plants spanning 180,000 square feet and 10 automated assembly lines integrating robotics and artificial intelligence. SMT has over 200 employees and more than 65 national and international customers. To learn more about SMT's expertise , visit smtintelligence.com or LinkedIn.
SOURCE Fonds de solidarité FTQ
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