Littelfuse buys C&K Switches in $540m deal
Littelfuse in the US is to buy C&K Switches in a deal worth $540m.
Littelfuse has a range of technologies, from silicon fuses and connectors to silicon carbide power MOSFETs and the Z80 processor. The deal follows the acquisition of switch maker Carling Technologies and heating and ventilation specialist Hartland Controls last year.
The company acquired Ixys Semiconductor and Monolith Semiconductor in 2018, with the TVS diodes, switching thyristors, and ignition IGBT product lines of ON Semiconductor and the Circuit Protection Devices business of TE Connectivity in 2016. It also acquired battery switch developer Menber’s in Legnago, Italy that year.
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C&K Switches was founded in 1928 and makes high-performance electromechanical switches and interconnect for industrial, transportation, aerospace, and datacom.
C&K Switches has sales of over $200 million a year and has a strong European focus with plants in France, Germany, China, India and Vietnam. The US headquartered company was acquired in 2000 by ITT Industries and spun off in 2007, acquiring Comax in China in 2008.
C&K saw an investment by Sun European Partners in 2017, acquiring Vuillermoz, a micro-mechanical components and tooling company in Germany in 2018 to help eliminate a tool shop bottleneck the Company had been experiencing. Last year C&K acquired EIS Electronics, a producer of cable and connector assemblies, increasing C&K’s customers in the high value aerospace and defence sector.
“C&K and Littelfuse share a common vision, with both companies having almost 100 years’ experience in the design and manufacture of high-performance products,” said Lars Brickenkamp, Chief Executive Officer of C&K. “With many common customers, applications and focus markets, our two companies share a high level of market and cultural affinity, which will allow C&K to continue to serve our existing customers, and rapidly add new ones, with competitive, market leading solutions.”
“We are excited to welcome C&K Switches employees to the Littelfuse team,” said Deepak Nayar, Senior Vice President and General Manager, Littelfuse Electronics Business. “With its strong brand reputation, a long history of design excellence and high-performing products, the addition of C&K Switches will enhance our presence and growth in our target markets. Our complementary go-to-market models — through a combination of direct sales and channel distribution — and expanded product portfolio will serve as a platform for future growth.”
Littelfuse saw sales of $2.1bn in 2021, up 44% on the previous year, with 33% of the growth organic.
“We finished the year with remarkable revenue and earnings growth, with more than 30% sales growth across all of our segments,” said Dave Heinzmann, President and CEO of Littelfuse. “We achieved these record results while advancing our strategic initiatives, driving content and share gains in high-growth markets, both organically and through acquisition. I am confident our ongoing execution, coupled with our investments in product development, digital presence and eMobility, position us to achieve our long-term growth strategy.”
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