TT Electronics to acquire power supply biz
UK-based advanced electronics components and systems manufacturer seeks to support growth in aerospace, defense
TT Electronics, a global provider of engineered electronics for performance critical applications, has agreed to acquire a US based business that designs and manufactures power electronics for defense and aerospace markets, enhancing TT’s ability to engineer complete power converters.
TT has agreed to acquire Excelitas Technologies Corp.’s, Covina, California-based business that designs and manufactures power supplies for defence and aerospace markets from Excelitas, for $17.7 million.
Power electronics for aerospace and defence
The acquisition enhances TT’s US presence in power electronics for aerospace and defence, providing access to growth programmes with sole-source positions. The acquisition will add a number of blue-chip US defence primes. TT is committed to investing in the business to further improve the business’ growth prospects and engineering capability.
The acquisition is subject to approvals from the US authorities and is expected to complete in Q1 2020, at which point the business will be integrated into TT.
“This acquisition will help us move up the value chain and add the ability to engineer entire power convertors to our core power electronic capabilities in aerospace and defence.,” says Richard Tyson, CEO, TT Electronics commented.