TT Electronics acquires aerospace and defense power supplierNews
November 19, 2019
UNITED KINGDOM. TT Electronics, a global provider of engineered electronics for performance critical applications, announced it has acquired Excelitas Technologies Corp., a California-based business that designs and manufactures power electronics for defense and aerospace markets.
According to the company, the acquisition will add a number of blue-chip U.S. defense primes. The acquisition is subject to approvals from the U.S. authorities and is expected to complete in Q1 2020, at which point the business will be integrated into TT.
Excelitas Technologies’ aerospace and defence power supply business revenues for the last 12 months to June 2019 were $9.3 million, and adjusted EBITDA was $1.7 million.