TT Electronics Buys Torotel

TT Electronics has bought Torotel, a US-based designer and manufacturer of  hi-rel power and electromagnetic assemblies and components for the aerospace and defense markets.

The acquisition is one of several recent investments by TT in power management devices for the aerospace and defensemarket.

TT has agreed to acquire Torotel for $43.4 million. The acquisition is subject to approval by Torotel’sshareholders and US regulatory conditions and is expected to close in Q4 2020, at which point the business will be fully integrated into TT as a wholly-owned subsidiary.

The acquisition will broaden TT’s power electronics capabilities and expanding US footprint following on from the recently acquired Covina, California-based business unit from Excelitas Technologies.

Torotel will extend TT’s list of blue-chip US aerospace and defense customers, providing access to growth programs with sole-sourced positions on major platforms.

Richard Tyson, CEO, TT Electronics said that TT had been tracking Torotel for some time. “It is an excellent fit and complementary to TT’s existing US power electronics business, strengthening our position in critical defense applications,” said Tyson.