MENTOR, OH ― Libra Industries has acquired fellow EMS firm Tetrad Electronics for an undisclosed amount.

In a statement, Libra called the acquisition a "major step" in its strategy to increase revenues and capture a larger share of the contract electronics market.

Tetrad was founded in 1983 and has manufacturing facilities in Willoughby, OH, and Hudson, OH, with 60 employees, all of whom will join Libra Industries. It has annual revenue of $10 million.

Libra has two sites in Mentor, where it employs about 140 workers. Both firms are privately held.

"Combining Libra Industries and Tetrad Electronics brings more than 65 years of experience and manufacturing expertise to the table,” said Rod Howell, CEO and owner of Libra. “We are looking forward to joining forces with Tetrad’s team, and together creating an expanded list of services that will make our customers more competitive and profitable”.