Inservco Acquires Test Technology
Published: 13 August 2007
by Mike Buetow
LAGRANGE, OH – EMS provider Inservco Inc. has acquired Test Technology Manufacturing Services Inc. and will relocate the company to its Ohio headquarters. No financial details were disclosed.
Jay Poffenberger, managing director and principal of MCM Capital Partners, a private equity group that owns Inservco, said the company expects sales to increase 30% to $35 million after the Test Technology operation is fully integrated. Test Technology had $12 million in sales last year, Inservco said.
Inservco, which has been expanding of late, will add 40 jobs following the relocation of Test Technology from Marlton, NJ. Two months ago, Inservco invested $1.5 million in a high-speed surface mount line.
According to CEO Dennis Docherty, Inservco will expand the LaGrange plant 48% to 40,000 sq. ft. at an estimated cost of $600,000.
Inservco has 100 employees and makes assemblies for Philips Medical Systems. Test Technology produces similar products but has a more diverse customer base, focused in the mid-Atlantic and Northeast.
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