This is fantastic news for STI. We have not flourished as we should as a non-core part of a multinational conglomerate, and we’re delighted that ownership has passed back into the hands of a British company that has a vision to help companies grow. Our order book is stronger than it has ever been and we are anticipating significant new contract wins in the next few months. I’m excited by what the future holds in store for STI, and look forward to guiding it through this next chapter in its history.
Surface Technology International (“STI”) is a contract electronics manufacturer, headquartered in Hampshire.
From its three facilities (two in the UK, one in the Philippines), STI provides complex printed circuit board assembly and box build services for critical applications across the Defence, Aerospace, Medical and Industrial sectors.
Rcapital acquired STI in October 2023 from Integrated Micro-electronics, Inc (“IMI”). A division of Ayala Corporation, a Philippine’s based conglomerate with verticals across banking, telecoms and industrials (amongst others).
IMI sought to divest of STI following a strategic review and Rcapital was selected as the preferred acquiror because of our deep expertise in delivering corporate carve out transactions. We were also preferred by STI because of our sector expertise having made several investments into businesses that also serve the Aerospace and Defence sectors (e.g. Nasmyth Group).
Rcapital has introduced a sector focussed CRO who will lead a strategic review and then turnaround programme.
