Cash is King, CTS Corporation completes $50M acquisition of Millar Holdings
Landon Capital News
CTS Corporation (CTS) announced the completion of its acquisition of Millar Holdings, Inc. for $50 million, net of cash acquired and debt assumed, with additional contingent consideration tied to specified financial performance targets.
Millar specializes in the design, development, and manufacturing of pressure sensing technologies for medical devices, life sciences, and industrial applications.
Pratik Trivedi, President and Chief Executive Officer of CTS Corporation, commented on the deal: “Millar represents a highly strategic addition to our portfolio, expanding our presence in medical sensing while adding differentiated technology, talented employees, and strong customer relationships.”
Tim Daugherty, Chief Executive Officer of Millar, said: “Joining CTS marks an exciting new chapter for Millar and an incredible opportunity to build on everything our team has accomplished over the past 55-plus years.”
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