Stockholders Approve SMTC Corporation’s Definitive Merger Agreement and Investment by H.I.G. Capital

TORONTO, March 31, 2021 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX) (“SMTC” or the “Company”), a global electronics manufacturing services provider and past winner of Frost & Sullivan’s Best Practices Award for Customer Value Leadership in the Electronics Manufacturing Services Industry, today announced that its stockholders at its special meeting held earlier today voted to adopt the previously announced definitive merger agreement, pursuant to which an affiliate of H.I.G. Capital, LLC (“H.I.G.”) would complete its investment in SMTC. The proposed merger is expected to close the week of April 5, 2021, subject to customary closing conditions set forth in the merger agreement, which was filed as an exhibit to, and discussed in detail in, the definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (“SEC”) by the Company on February 18, 2021, as supplemented by the supplemental disclosures filed with the SEC by the Company on February 25, 2021.

About SMTC

SMTC Corporation was founded in 1985 and acquired MC Assembly Holdings, Inc. in November 2018. SMTC has more than 50 manufacturing and assembly lines in the United States and Mexico, which creates a powerful low-to-medium volume, high-mix, end-to-end global electronics manufacturing services (EMS) provider. With local support and expanded manufacturing capabilities globally, including fully integrated contract manufacturing services with a focus on global original equipment manufacturers and emerging technology companies, including those in the Avionics, Aerospace and Defense, Industrial IoT, Power and Clean Technology, Medical and Safety, Retail and Payment Systems, Semiconductors, Telecom, Networking and Communications, and Test and Measurement industries. As a mid-size provider of end-to-end EMS, SMTC provides printed circuit board assembly production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, and sustaining engineering and supply chain management services. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. For further information on SMTC Corporation, please visit our website at www.SMTC.com.