RCM Technologies, Inc. Announces Acquisition of Thermal Kinetics

PENNSAUKEN, N.J., Nov. 15, 2018 (GLOBE NEWSWIRE) — RCM Technologies, Inc. (NasdaqGM: RCMT) announced today the acquisition of Thermal Kinetics, an established Buffalo-based engineering company providing full service process equipment supply, engineering, development and design services for construction and industrial customers.  The purchase of Thermal Kinetics, structured as an asset purchase, will complement and expand RCM’s Engineering services offerings and provide all of our customers with a stronger depth of experienced engineering resources and capabilities.

“We are very pleased to welcome Thermal Kinetics into the RCM family,” commented Frank Petraglia, President of Engineering Services for RCM.  “This acquisition will build and strengthen RCM’s reputation as a premier single-source provider of engineering and technology solutions, having a strong customer focus and offering an integrated suite of services.  Thermal Kinetics has built an outstanding reputation for providing core technologies, design and process operations.  We are confident that their suite of services will complement what RCM already provides.”

Thermal Kinetics is a key technology and development partner, which for nearly twenty years has provided engineering services on construction and industrial processes. At the forefront of new techniques and technologies, Thermal Kinetics is dedicated to providing environmentally friendly, energy-saving solutions.  Thermal Kinetics engineers and builds optimal thermal integrations and unique separations approaches for industrial processes and equipment. Their clients are primarily in the chemical, oil and gas, renewable fuels, pharmaceutical, and industrial manufacturing industries.

The RCM engineering division’s core business mission is to continue its strategic transformation designed to focus on providing our customers complete engineering, procurement and construction (EPC) solutions.  With Thermal Kinetics joining the team, we can now offer our combined suite of capabilities and services to our global list of clients. Both companies pride themselves on being a solution provider and helping customers optimize their assets and returns.

Christopher Brown, President of Thermal Kinetics, said: “By joining RCM, we gain strong leadership, vast experience, rapid scalability and international delivery capability that will help us meet client needs and continue to grow.  Like our company, RCM is solution focused and driven by innovation. We are excited about our future together.”

About RCM
RCM Technologies, Inc. is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced information technology and engineering services.  RCM is an innovative leader in the design, development and delivery of these solutions for more than 35 years. Engineering services include aerospace, energy, life sciences and power systems. RCM also provides IT staffing and solutions and health care staffing services. RCM’s offices are located in Canada, Puerto Rico, Serbia and throughout the United States.  Additional information can be found at www.rcmt.com.

The Statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements.  These statements often include words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should,” “are confident” or similar expressions.  In addition, statements that are not historical should also be considered forward-looking statements. These statements are based on assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances.  Forward-looking statements include, but are not limited to, those relating to demand for the Company’s services, expectations regarding our future revenues and other financial results, our pipeline and potential project wins and our expectations for growth in our business. Such statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors, which may cause actual events to be materially different from those expressed or implied by such forward-looking statements.  Risk, uncertainties and other factors may emerge from time to time that could cause the Company’s actual results to differ from those indicated by the forward-looking statements. Investors are directed to consider such risks, uncertainties and other factors described in documents filed by the Company with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements contained in this release as a result of new information or future events or developments, except as may be required by law.