CTS - M&A Summary and Business Overview

ElectronicsCompany

CTS M&A Summary

CTS has acquired 15 companies, including 5 in the last 5 years. It has also divested 1 asset.

CTS’s largest acquisition to date was in 2019, when it acquired Quality Thermistor for $80M. It’s largest disclosed sale occurred in 2013, when it sold CTS Electronics Manufacturing Solutions to Benchmark Electronics for $75M. CTS has acquired in 7 different US states, and 4 countries. The Company’s most targeted sectors include electronics (40%) and electrical equipment (20%).

CTS Business Overview

Where is CTS headquartered?

CTS is headquartered in Lisle, Illinois.

What is CTS’s revenue?

CTS disclosed revenue of 550M USD for 2023 and 587M USD for 2022.

How many employees does CTS have?

CTS has 4,081 employees.

What sector is CTS in?

CTS is an electronics company.

When was CTS founded?

CTS was founded in 1896.

M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity15
    • M&A Sell Activity1
  • Total Sectors Invested 6
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 4
  • M&A Advisors 1

CTS

CTS Corp.

4925 Indiana Avenue,
Lisle, Illinois 60532
United States,
(630) 577-8800
www.ctscorp.com

CTS is a designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, communications, medical, defense and aerospace, industrial and computer markets. CTS was incorporated in 1896 and is based in Lisle, illinois.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 11 1 - 2 1 - 15
vol $312M $103M $415M
Sell (0.0/yr) # 1 - - - - - 1
vol $75M $75M
  16

Most Recent M&A

Company Date Value Type
maglab AG 2023-02-20 - Add-on Acquisition
Basel, Switzerland · www.maglab.ch
Meggitt A/S 2022-04-12 79M DKK Divestiture
Kvistgaard, Denmark · www.meggittferroperm.com
TEWA Temperature Sensors SP. Zo.o. 2022-02-28 24M USD Add-on Acquisition
Lublin, Poland · www.tewa-sensors.com
Sensor Scientific, Inc. 2020-12-30 - Add-on Acquisition
Fairfield, New Jersey · www.sensorsci.com
Quality Thermistor, Inc. (QTI) 2019-07-31 80M USD Add-on Acquisition
Boise, Idaho · www.thermistor.com
Noliac A/S 2017-05-16 - Add-on Acquisition
Kvistgaard, Denmark · www.noliac.com
CTG Advanced Materials LLC 2016-03-13 73M USD Divestiture
Bolingbrook, Illinois · www.atgsites.com/ctg_advanced_materials_llc
Filter Sensing Technologies, Inc. 2015-10-28 - Add-on Acquisition
Malden, Massachusetts · www.fstcorporation.com
CTS Electronics Manufacturing Solutions, Inc. 2013-10-03 75M USD Divestiture
Moorpark, California
D&R Technology LLC 2012-12-21 64M USD Divestiture
Carol Stream, Illinois · www.d-r-t.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Electronics 6 (40%) 157M (38%) 1 (100%) 75M (100%)
Electrical Equipment 3 (20%) 18M (4%) - -
Semiconductors 3 (20%) 64M (15%) - -
Manufacturing 1 (7%) 73M (18%) - -
Technology Hardware 1 (7%) 79M (19%) - -
Test/Measurement Equipment 1 (7%) 24M (6%) - -
Total 15 $415M 1 $75M

By Geo

State/Country Buy Value Sell Value
United States 10 312M 1 75M
  California 2 65M 1 75M
  Massachusetts 2 18M - -
  Illinois 2 137M - -
  New Jersey 1 - - -
  Minnesota 1 - - -
  Idaho 1 80M - -
  Arizona 1 12M - -
Denmark 2 79M - -
Switzerland 2 - - -
Poland 1 24M - -
Domestic 10 (67%) 312M (75%) 1 (100%) 75M (100%)
Cross-border 5 (33%) 103M (25%) - -
Total 15 $415M 1 $75M

Top M&A Advisors

Financial Deals
Lincoln International
 1

Deal Values

buy # Total
< $100M 9 $415M
TOTAL $415M
Largest Quality Thermistor, Inc. (QTI)
$80M (2019-07-31)
sell # Total
< $100M 1 $75M
TOTAL $75M
Largest CTS Electronics Manufacturing Solutions, Inc.
$75M (2013-10-03)

M&A Connections

Deals
Acquired from
Strategic(s)
20%
3 (20%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Electronics

Revenue

550   7% 2023
587   15% 2022
513   21% 2021
424   10% 2020
469   1% 2019
470   12% 2018
423   7% 2017
397   4% 2016
382   6% 2015
404   2% 2014
409   35% 2013
304   2012
(millions of USD) Show More Show Less

Employees

4,081

Established

1896

Public

NYSE: CTS

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