Celestica to acquire Atrenne Integrated Solutions
Acquisition to broaden Celestica’s design and manufacturing capabilities in the aerospace and defense market
Celestica Inc. ,a Toronto-based multinational electronics manufacturing services (EMS) firm, has entered into a definitive agreement to acquire Atrenne Integrated Solutions Inc., New Hope MN.
Atrenne is a leading designer and manufacturer of ruggedized electromechanical solutions serving multiple markets, primarily for military and commercial aerospace applications. Atrenne’s integrated solutions serve a full spectrum of next-generation, mission-critical applications on over 100 military and aerospace programs deployed globally. Its proprietary designs enable high-performance defense and security platforms to operate in harsh environments and support the continued growth of commercial aviation with the highest levels of quality and safety.
Leadership position within Aerospace and Defense
Headquartered in the US, Atrenne has two US-based, ITAR-certified sites (Brockton MA and New Hope, Minnesota) and a site in Xiamen, China.
“This acquisition will advance our strategic direction to expand our capabilities, improve our diversification and bolster our leadership position within Aerospace and Defense,” said Rob Mionis, president and chief executive officer, Celestica. “Our goal is to broaden our comprehensive portfolio of end-to-end product lifecycle solutions across all of the markets we serve to deliver enhanced value to our customers.”
Celestica will purchase Atrenne, on a cash-free and debt-free basis, for US$139 million in cash (subject to specific adjustments as set forth in the definitive agreement) using a combination of cash on hand and its revolving credit facility. The acquisition is expected to close in the second quarter 2018, subject to receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.