NORTH KINGSTOWN – Schroff Technologies International Inc. has been acquired by the San Diego, Calif.-based company RF Industries Ltd. for $4 million, with a potential additional obligation of $2.4 million if certain financial targets are achieved, RF Industries disclosed this week in a filing with the Securities and Exchange Commission.
Schroff Technologies, also known as Schrofftech, is a manufacturer of products in the wireless, telecom and cable markets.
RF Industries said Schrofftech makes two primary products: an energy-efficient cooling system for wireless base stations and remote equipment shelters that can decrease a telecom carrier’s air conditioning costs up to 75%, as well as a family of custom-designed, pole-ready 5G small cell integrated enclosures.
“Schrofftech has a great reputation in the market for providing quality solutions to their customers,” said Robert Dawson, president and CEO of RF Industries. “Their offerings of passive and integrated solutions for the communications marketplace are a great fit with RF Industries. We are excited to welcome the talented employees from Schrofftech to the RF Industries team and believe that their product offerings fit perfectly with our focus on the 5G small cell market and the significant growth opportunities we see in servicing that market over the next several years.”
Schrofftech has 11 employees in North Kingstown. The company was founded in 2005.
“We are very eager and excited to join RF Industries. From day one we can take advantage of a vertical supply chain architecture to bring benefit to our shared customers,” David Therrien, president of Schroff Technologies, said of the acquisition. “Having access to top-quality RF and fiber cable assemblies is a strong complement to our integrated 5G enclosure product offering. This natural synergy, combined with exposure to a broader customer base, provides us a significant growth opportunity in the coming years.”
The seller was DRC Technologies Inc., which was transferred the company stock held by Therrien and Richard DeFelice, according to the SEC filing.
RF Industries is a designer and manufacturer of interconnect products for the wireless/wireline telecom, data communications and industrial sectors.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
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