BERKSHIRE, UK – TT Electronics will acquire Stadium Group in a cash transaction valued at approximately £45.8 million.
TT Electronics will strengthen its position in the industrial, medical, aerospace, defense and transportation sectors and enhance product capabilities in power electronics and connectivity.
TT Electronics expects the purchase to be immediately earnings enhancing, with a targeted return on capital as of Dec. 31, 2020.
The transaction is subject to conditions and further terms, including the approval of Stadium shareholders.
"The acquisition of Stadium is an important step to accelerate our strategy of building leading positions in sectors where increasing electrification is fueling demand for our highly engineered electronic solutions,” said Richard Tyson, CEO of TT Electronics. “We look forward to welcoming Stadium's employees and combining power electronics capabilities and R&D expertise to drive growth for the combined business. Stadium will add complementary technologies, including connectivity offerings, in industries we already know well."