Hudson circuit board assembly firm acquired
HUDSON — A decade-old Hudson circuit board assembly company has been acquired by a Canadian electronics firm — a move officials said would lead to the creation of up to 20 new jobs in the Granite State within the coming year.
On Tuesday, a spokesman from Varitron Group Inc., a firm based in Saint Hubert, Quebec, said the company had finalized its acquisition of Altronics Manufacturing Inc., a Hudson company specializing in high-tech electronic contract manufacturing services for use in industrial sensors, complex communications devices, military and medical devices.
Varitron CEO Martial Vincent said, the recent transaction would provide his company “with an essential presence for meeting U.S. content requirement for its customers, both local and abroad.”
“Varitron and Altronics provide similar services, but also offer complementary offerings intended for different markets,” Varitron President Michel Farley added. “By pooling our expertise, we will be able to serve more customers and provide added value in terms of volume, with the aim of consolidating the U.S. market and developing new niches.”
Last fall, Altronics founder and president Jeff Altschuler announced that the Executive Drive firm was in the process of doubling its floor space, noting the company had taken advantage of additional space that had been vacated in the office park earlier that year.
Altschuler declined to share specifics on the Hudson facility’s past or current space dimensions but noted last fall that Altronics had about 50 employees. As of this week, 60 workers were employed in Hudson, according to Vincent.
This week, Vincent said Altronic’s current staff members would stay on, and new jobs would be created in response to anticipated increases in business volume.
Vincent said Altschuler would have a new title — executive vice president of the New Hampshire division.
“Our two companies have much in common, particularly in terms of corporate culture, market vision and work philosophy,” Altschuler said in a written statement, calling the Varitron Group “an ideal partner.
“Altronics was at a crossroads, and this acquisition enables us to grow our business more rapidly and develop new markets,” he added.
The family-owned electronics company had humble beginnings. Altschuler began his business more than a decade ago out of a Friars Drive residence.
The company has been in its current location since 2006.