OULU, FINLAND – Scanfil has announced the acquisition of SRXGlobal and its factories in Melbourne, Australia, and Johor Bahru, Malaysia, for €23.3 million ($25.7 million).

Between the two factories, SRX has eight total SMT lines and around 300 employees.

"The acquisition of SRX is a step in building up our presence in Asia Pacific region and the implementation of our strategy," said Scanfil CEO Christophe Sut. "It creates synergies in procurement, improves geographic diversification and strengthens our customer portfolio. The acquisition brings us new customers and allows our existing customers to expand their operations with us in the new areas of the fast-growing Asia Pacific region. For SRX employees, a bigger and more international company creates new career and personal development opportunities. I want to welcome all our new employees to be part of the growing Scanfil family."

SRX specializes in complex, high-mix, low-to-medium volume production and has a diversified spread of customers.

"We have a lot in common with Scanfil with our Medical and Industrial focus, complex manufacturing capabilities and, importantly, genuine pride in the people we employ – creating a team that can deliver world class operational performance takes time and dedication," said Paul Appleby, CEO, SRX. "For almost 30 years, SRX has provided exceptional service in Australia and Malaysia and developing meaningful relationships with our staff, customers, and suppliers. Culturally, we are very close to Scanfil and share similar values with high work ethic, professionalism in all things we do, and strong customer focus. I am thrilled that SRX is now part of the Scanfil family, and I look forward to seeing SRX grow stronger under the new ownership structure."