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CTS Corporation Sells EMS Business to Benchmark Electronics for $75M in Cash

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CTS Corporation (NYSE: CTS) today announced that it has entered into a
definitive agreement with Benchmark Electronics, Inc. under which
Benchmark (NYSE: BHE) has acquired CTS' Electronics Manufacturing Solutions (EMS)
business for $75 million in cash. Included are five manufacturing
facilities located in Moorpark, CA, Londonderry, NH, Bangkok, Thailand,
Matamoros, Mexico, and San Jose, CA and approximately 1,000 employees.
The transaction sharpens CTS' focus on its Components and Sensors
business, and provides additional capital to drive growth and enhance
shareholder value.

“Since I joined CTS in January, I have been working closely with the
Board of Directors to evaluate the Company's portfolio in order to
ensure alignment with our core vision and business strategies,” said

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

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