GGI Solutions, a portfolio company of Caisse de dépôt et placement du Québec (CDPQ) and Québec Manufacturing Fund (QMF), has acquired the membrane switch business of The Bergquist Company, a fully owned subsidiary of Henkel AG & Company. Financial terms were not disclosed.
The acquisition also includes certain intellectual property assets related to the application of positive temperature coefficient ink designs for printed heater solutions that will allow GGI to further differentiate itself and grow in the emerging and high growth printed electronics market.
QMFs are private equity funds sponsored by CDPQ. GGI Solutions’ investors also include [mepr-active rule=”374″ ifallowed=”hide”]#Premium Subscribers ONLY Content – Research and Intelligence – Know Others Don’t, Be Informed.#[/mepr-active][mepr-active rule=”374″]W Industries Inc. (3rd behind QMF and CDPQ), a company controlled by Groupe W Inc. (Nicolas Bélanger, Louis Bélanger-Martin), Eclo Capital (Éric Lemieux) and 9320-1275 Québec Inc. (Étienne Antonie Veilleux).[/mepr-active]
photo credit: GGI
News Release
GGI Solutions Acquires Bergquist Membrane Switch Business
MONTREAL, July 25, 2018 /CNW Telbec/ – GGI Solutions, a leader in the design and manufacturing of Human Machine Interfaces, announced today its acquisition of the membrane switch business of The Bergquist Company (“Bergquist”), a fully owned subsidiary of Henkel AG & Company (“Henkel”). Providing a complementary technology offering, the US-based membrane switch business contributes to GGI’s growth strategy and will further expand its market position in North America.
Bergquist established its membrane switch division in 1983. Since then it has gained a strong foothold in the membrane switch market and has developed HeatSealTM, an advanced fabrication process for layer adhesiveness. This technology provides unique structural integrity for membrane switches and all types of electro-mechanical assemblies that require high performance sealing against liquid ingression, chemicals and strong pressure variations. Over the years, the company has diversified its portfolio of top-tier customers and provides key components of Human Machine Interface (HMI) solutions to multinational industry leaders in the medical, aerospace and industrial sectors.
“Today’s announcement is another solid step in supporting our ongoing acquisition-based strategy in the global HMI market. The acquisition of the Bergquist membrane switch business creates greater value for customers, expands our capabilities and positions us as a global leader in both the HMI and printed electronics industries,” said Eric Saint-Jacques, CEO of GGI Solutions. “Our customers expect us to increase our operational scale and global presence to reduce cost and better support their growth strategies. They also require that we innovate and integrate value added services into our offering. This acquisition further supports our customer’s requirements.”
This acquisition also includes certain intellectual property assets related to the application of positive temperature coefficient ink designs for printed heater solutions that will allow GGI to further differentiate itself and grow in the emerging and high growth printed electronics market. Bringing additional printed heating technology and applications to GGI’s solution offering will significantly strengthen GGI’s presence in the smart building, home heating and transportation markets.
“This acquisition further reinforces our commitment to bring the most innovative and highest value technologies and solutions to our global customers” said Steve Birrell, VP Sales & Marketing of GGI Solutions. ”Our innovations in materials, technologies and processes enable us to create high value solutions for our customers. This acquisition enhances our technology and IP portfolio, which we believe will be of immediate benefit to customers and a great opportunity for our partners.”
The acquisition of Bergquist’s membrane switch business is GGI’s second acquisition in North America, following its acquisition of ClickTouch in July 2017. The company’s growth strategy has considerably contributed to new bookings, increased revenue, and broadening its customer base.
Bergquist, a leading thermal management materials company which was acquired by Henkel in 2014, will remain focused on developing, designing and advancing thermal solutions as part of Henkel’s Adhesive Technologies business.
About GGI Solutions
GGI has specialized in the custom design and production of Human Machine Interface technologies for over 30 years while continually diversifying its product and service offerings. The company is a trusted value-added partner in leading-edge technological solutions for its global aerospace, medical, industrial, transport and defence clients. GGI is also a leader in the emerging printed electronics industry, leveraging its partnerships with the Canadian National Research Council and global market leaders to develop breakthrough applications of its scientific innovations. The company is well supported by its primary financial investor, la Caisse de dépôt et placement du Québec (CDPQ), one of the world’s largest institutional investors with over $225 billion USD of assets under management. For more information about GGI and its solutions, please visit www.ggisolutions.com
SOURCE GGI Solutions