Thursday, October 3, 2013

Benchmark Electronics Buys Electronics Manufacturing Firm

Angleton, Texas-based Benchmark Electronics announced this morning that it has acquired the electronics manufacturing segment of CTS Corporation, a provider of complex manufacturing in the industrial, aerospace, defense, medical, and communications markets. Benchmark said it is paying $75M for the business, and will also gain five locations and approximately 1,000 employees in the buy. Benchmark Electronics said the CTS unit is expected to generate annual revenues in excess of $200M for the company in 2014.