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

CTS Corporation

today announced that it has entered into a definitive agreement with Benchmark Electronics, Inc. under which Benchmark

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