PMCF Advises discoverIE Group plc in its Announced Acquisition of 3G Metalworx

PMCF Investment Banking (“PMCF”) is pleased to announce that discoverIE Group plc (LSE: DSCV, “discoverIE”, or the “Group”) has announced its acquisition of a 90% interest in 3G Metalworx (“3G”). PMCF served as discoverIE’s investment banker in the transaction.

Founded in 1994, 3G designs and manufactures electromagnetic shielding and thermal management products for electronic equipment. Demand for these products continues to grow as computing and communication needs increase. 3G’s primary markets, including security, defense & aerospace, commercial space, and industrial, align well with discoverIE’s strategy of targeting long-term growth segments. 3G operates production and sales facilities in Toronto, Canada, as well as in St. Petersburg, Florida, and Oceanside, California.

3G will join the Group’s Connectivity operating unit within the Sensing & Connectivity division, retaining its distinct brand identity. It will work alongside MTC, discoverIE’s existing European based electromagnetic shielding business, which has achieved strong, consistent sales and profit growth since being acquired in 2011. Other businesses in the Group will also benefit from access to 3G’s extensive customer base and sales channels, particularly in North America.

Nick Jefferies, Group Chief Executive of discoverIE, said: “The acquisition of 3G continues our strategy of building a differentiated, growth-focused, international electronics group with strong operating margins and cashflow, and will be accretive to both the Group’s adjusted earnings and operating margin. This transaction is discoverIE’s second recent acquisition with a primary focus on the security and defense market.

3G is an excellent business with a strong management team and growth prospects. We welcome the team and look forward to working with them to build our position in its products and markets both in North America and in Europe.”

Joe Wagner, Managing Director of PMCF, commented: “3G is a compelling, highly strategic acquisition that expands discoverIE’s electromagnetic shielding capabilities and further strengthens its exposure to high growth security, A&D and industrial markets.” Wagner added, “We’ve enjoyed supporting discoverIE in executing its North American M&A strategy and are pleased its executive team placed their trust in our firm to identify 3G as an acquisition target and manage the transaction execution along with the Group’s corporate development team, culminating in a successfully announced transaction.”

The acquisition is subject to receipt of regulatory approvals and is expected to close in the next few months. Gowling WLG, in Canada, and FBT Gibbons, in the US, served as legal advisors to discoverIE.

ABOUT discoverIE Group plc

discoverIE Group plc is a leading international group of businesses that design and manufacture customized electronic components for industrial applications.

ABOUT PMCF

PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity-owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on key industry verticals including business services, construction & building products, consumer, food, and beverage, healthcare & medical technology, industrial manufacturing, industrial services & distribution, plastics & packaging, private equity & financial sponsor coverage, software & technology, and transportation & logistics industries.