May 13, 2020
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Applied Technical Services Corporation (“ATS”), a privately held company founded in 1984 that provides end-to-end electronic manufacturing services, in its acquisition by Creation Technologies (“Creation”).
Based in Vancouver, Canada, Creation provides total electronic product lifecycle solutions to its customers around the world, including turnkey design, manufacturing and fulfillment. With approximately 2,700 employees, Creation operates eight manufacturing locations, two design centers and a rapid prototyping center in the US, Canada, Mexico and China. ATS operates two award winning manufacturing locations in Everett, WA and Hermosillo, Mexico, each offering three highly automated state-of-the-art EMS design and manufacturing facilities. Creation’s acquisition of ATS expands its customer base in the aerospace and defense, medical and industrial tech markets and bolsters its manufacturing capacity and operational flexibility.
ATS’s reputation for building longstanding relationships with its customers aligns with Creation’s own lifetime partnership strategy. In February 2020, both companies demonstrated the value of this approach by winning the customer-driven Service Excellence Awards for dependability, responsiveness, technology and value. ATS’s top-tier operational practices and employee engagement have also earned the Company a ranking in Washington’s 100 Best Workplaces listing for the past five years.
“The EMS space is technical and demanding. We needed an advisor that could understand our business, position the story and help manage sophisticated counterparties to create our desired outcome, and do so in the middle of a global pandemic. Cascadia did a great job on all fronts,” noted George Hamilton, CEO and Owner of ATS.
“ATS’ manufacturing capabilities and reputation are best-in-class in a highly competitive space. Its operational leadership and excellence are the perfect complement to Creation’s footprint and global reach,” added Cascadia Managing Director Firdaus Pohowalla.
The acquisition of ATS represents another successful transaction for Cascadia in the Advanced Manufacturing and Automation sector, and the second transaction completed within this sector since the start of the COVID pandemic. Most recently Cascadia announced the sale of Lucidyne Technologies to Microtec, which is another marquee transaction in this space.
For more information about this transaction, please contact the Cascadia Capital deal team: