M&A Deal Summary

TTM Technologies Acquires Anaren

On December 3, 2017, TTM Technologies acquired electrical equipment company Anaren from Veritas Capital for 775M USD

Acquisition Highlights
  • This is TTM Technologies’ 1st transaction in the Electrical Equipment sector.
  • This is TTM Technologies’ 3rd largest (disclosed) transaction.
  • This is TTM Technologies’ 5th transaction in the United States.
  • This is TTM Technologies’ 1st transaction in New York.

M&A Deal Summary
Date 2017-12-03
Target Anaren
Sector Electrical Equipment
Buyer(s) TTM Technologies
Sellers(s) Veritas Capital
Deal Type Add-on Acquisition
Deal Value 775M USD
Advisor(s) Houlihan Lokey
Evercore Group (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Anaren

Syracuse, New York, United States
Anaren, Inc. is a designer and manufacturer of high-frequency RF and microwave microelectronics, components, and assemblies for the space, defense, and telecommunications sectors. Anaren, Inc. was established in 1967 and is based in Syracuse, New York.

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Buyer(S) 1

Buyer

TTM Technologies

Santa Ana, California, United States
Category Company
Founded 1978
Sector Semiconductors
Employees15,800
Revenue 2.2B USD (2023)
DESCRIPTION
TTM Technologies' corporate headquarters in Costa Mesa, California.
TTM Technologies' corporate headquarters in Costa Mesa, California.

TTM Technologies is a provider of time-critical and technologically complex printed circuit board products and backplane assemblies, which serves as the foundation of sophisticated electronic products. TTM Technologies was founded in 1978 and is based in Santa Ana, California.

DEAL STATS #
Overall 6 of 7
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (New York) 1 of 2
Country (United States) 5 of 6
Year (2017) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-22 Viasystems Group

St. Louis, Missouri, United States

Viasystems Group, Inc. is a provider of complex multi-layer, rigid printed circuit boards (PCBs) and electro-mechanical solutions (E-M Solutions). Its PCBs serve as the “electronic backbone” of many kinds of electronic equipment, and its E-M Solutions products and services integrate PCBs and other components into electronic equipment, including metal enclosures, cabinets, racks and sub-racks, backplanes, cable assemblies and busbars.

Buy $927M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-22 TTM Technologies - Mobility Business Unit

China

TTM Technologies, Inc. - Mobility Business Unit (Four China Manufacturing Plants) provides reducing exposure to the highly seasonal and cyclical cellular market, increasing mix of business to longer cycle markets with aerospace and defense remaining largest end market, expected improvement in overall margins, and cash proceeds which can be reinvested in the business or used to reduce debt.

Sell $550M

Seller(S) 1

SELLER

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 16 of 27
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 9 of 14
State (New York) 2 of 2
Country (United States) 16 of 27
Year (2017) 4 of 4
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 Excelitas Technologies

Waltham, Massachusetts, United States

Excelitas Technologies is a global provider of photonics technology solutions. The Company’s components, modules and sub-systems enable its customers to develop unique, technology-driven products that serve a broad range of growing end markets. Excelitas’ core capabilities include expertise in detection, optics, illumination and advanced electronics. The Company primarily targets high-growth applications within the life sciences, industrial, semiconductor, consumer and defense and aerospace markets. Excelitas Technologies was founded in 1931 and is based in Waltham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 Guidehouse

McLean, Virginia, United States

Guidehouse is a global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. The Company helps clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Guidehouse was founded in 2018 and is based in McLean, Virginia.

Buy -
Mergr

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