Littelfuse to acquire C&K Switches to drive growth
Littelfuse, Inc., an industrial technology manufacturing company, has announced that it has entered into a definitive agreement with an affiliate of Sun Capital Partners to acquire C&K Switches at an enterprise value of $540 million. Founded in 1928, C&K Switches is a leading designer and manufacturer of high-performance electromechanical switches and interconnect solutions with a strong global presence across a broad range of end markets, including industrial, transportation, aerospace, and datacomms. Headquartered in Waltham, Massachusetts, with facilities located around the world, C&K Switches has annualized sales of over $200 million.
“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,” said Deepak Nayar, Senior Vice President and General Manager, Littelfuse Electronics Business. “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.”
he transaction is subject to customary closing conditions and regulatory approvals and is expected to close during the second calendar quarter of 2022. C&K Switches will be reported within the company’s Electronics reporting segment. Littelfuse expects to finance the transaction consideration through a combination of cash and debt.
Serving over 100,000 end customers across more than 15 countries, Littelfuse products are found in a variety of industrial, transportation and electronics end markets. With approximately 17000 global associates, the company partners with customers to design and deliver innovative, reliable products.
Wachtell, Lipton, Rosen & Katz is serving as legal counsel and Macfarlanes LLP is serving as UK legal counsel to Littelfuse.