Acquisition significantly enhances capacity, geography and client reach.
Toronto, Canada and Long Island, New York – Array Canada Inc. today announced that it had acquired 100% of Summit Manufacturing LLC. Under the terms of the agreement, Summit will operate as an Array company and will continue to build on its position as a high quality, agile and cost effective partner to leading brands and retailers across the United States.
The transaction, terms of which were not disclosed, closed on May 31st, 2017.
“This investment provides us with a talented and experienced team, many new customers and considerable resources to accelerate service for our New York-based clients. It also significantly enhances our capacity in North America and provides us with vertical integration in metal work, injection molding and a significant boost in thermoforming, all of which enhance the group’s value proposition,” said Tom Hendren, CEO of Array.
Array provides custom, high-end merchandising solutions in more than 30,000 retail locations for the world’s most iconic prestige brands and retailers. With a strong footprint in prestige cosmetics and apparel, the company utilizes its deep expertise in design, research & development, project management and global manufacturing to help transform retail environments. Array is headquartered in Toronto and employs over 1,000 employees in operations in Toronto and Bradford, Ontario; New York City; Mexico City and Shenzhen, China.
In December 2015, Carlyle U.S. Equity Opportunity Fund II, a U.S. middle-market buyout fund managed by The Carlyle Group, acquired Array Canada Inc.
Array and Carlyle were advised on the transaction by Goodwin Procter and EY.
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Summit offers a wide variety of services in design, engineering and manufacturing for leading brands and retailers across the USA. With more than 300 employees principally located in Long Island, New York, Summit is a dynamic, multi-disciplined manufacturer of merchandising materials, retail displays and fixtures.