LOS ANGELES, CALIFORNIA and FRAMINGHAM, MASSACHUSETTS, April 23, 2025 (GLOBE NEWSWIRE) — Omni-Lite Industries Canada Inc. (“Omni-Lite” or the “Company”) (TSXV: OML | OTCQX: OLNCF) is pleased to announce that it has today, signed and completed the strategic acquisition of Framingham, Massachusetts-based Electronic Components, Inc. (“eComp”), a leading value-added distributor of hard-to-find electronic components serving the aerospace & defense, medical, and energy sectors.
The acquisition was an all-cash transaction valued at approximately US$350,000.
eComp has a strong reputation and long-standing customer relationships known for delivering electronic solutions for obsolescence, technology upgrades, and diminished source issues.
The addition of eComp is expected to open new sales channels and increase Omni-Lite’s visibility within the high-performance electronics space, particularly in the Aerospace & Defense industry. While this is a small acquisition, the business is anticipated to contribute positive earnings almost immediately. Longer run, Omni-Lite believes that eComp will add more to earnings by increasing the customer base for Omni-Lite’s current stable of products.
No finders or brokers fee was connected with this transaction. .
Management Comments
David Robbins, CEO of Omni-Lite, stated:
“I’m excited about combining eComp’s deep customer relationships with Monzite’s electronic technology capabilities to expand our revenue from high-performance electronic products for top aerospace and defense primes. The addition of eComp also brings a trained and experienced sales force, which will strengthen our pipeline of opportunities—particularly in new platforms and sustainment/modernization of mature programs.”
Richard Nadeau, President and Founder of eComp, added:
“We’ve solved critical sourcing challenges for customers across a variety of industries. I’m excited to partner with Monzite to bring even more value through their engineering expertise and innovative product capabilities.”
About Omni-Lite Industries Canada Inc.
Omni-Lite Industries Canada Inc. is an innovative developer and manufacturer of mission-critical, precision-engineered components used by Fortune 100 companies in the aerospace and defense industries. Through its subsidiaries, including Monzite Corporation and DP Cast, Omni-Lite provides high-reliability solutions from complex forming, investment casting and microelectronics assemblies.
About eComp Electronic Components Inc
eComp™ is a specialty distributor and authenticator of products for the military, aerospace, medical and industrial marketplace. We provide authenticity verification / value added services for legacy components and can offer engineering assistance and custom replacement solutions for obsolete products and systems.
For further information, please contact:
Mr. David Robbins
Chief Executive Officer
Tel: (562) 404-8510 or (800) 577-6664
Email: d.robbins@omni-lite.com
Website:
Forward Looking Statements
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intent”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information in this press release includes, but is not limited to, the potential for the eComp acquisition and the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward- looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward- looking information include, but are not limited to: the ability to successfully integrate the eComp acquisition and realize the anticipated benefits, general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental consents and approvals, if and when required; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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