TT Electronics buy boosts US defence power supply business
TT Electronics in the UK has bought a US-based business unit that designs and manufactures power supply electronics for defence and aerospace applications in a deal worth $17.7m (€15.9m).
The defence power product line, based in Covina, California, was acquired from Excelitas Technologies in Waltham, Massachusetts. Other high power business units were not part of the deal, said Excelitas. “The Covina operation provides power supplies only to defense and aerospace customers and is separate and distinct from Excelitas’ other high-voltage power supply business, which is not included in the sale,” said the company. The rest of the Excelitas Defense & Aerospace portfolio includes photonic components and subsystems, night vision equipment, and advanced electronic systems for governments and government prime contractors around the globe.
The acquisition adds a number of US defence primes to TT Electronics’ customer base. “The Covina business is a clear fit with TT’s strategy to build leading positions in the aerospace and defence markets where the proliferation of electronics is driving demand for our power solutions. We are excited to welcome Covina employees and customers to TT, and remain committed to providing value-added engineering solutions and world-class service through the development of strategic partnerships,” said Michael Leahan, EVP Power Solutions North America, TT Electronics.
“The Covina employees join a TT population of 5,000 employees, about 500 of which are now located in the USA,” said Katelyn M. DeVan, US-based Vice President of Global Marketing at TTelectronics.