CTS Corporation acquires D&R Technology

Date
12/27/2012

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Synergistic acquisition expands CTS strategic automotive sensor product platform

CTS Corp has acquired D&R Technology (D&R), a privately-held company with annual sales of approximately $50 million. D&R is a leading manufacturer of custom designed sensors, switches and electromechanical assemblies, primarily serving the automotive light-vehicle market. CTS acquired D&R for a cash purchase price of approximately $63.5 million. Management expects the transaction to be accretive to CTS' earnings in the first year. The synergistic acquisition significantly expands CTS' strategic automotive sensor product platform with new customers and a broader product portfolio. The acquisition will also further diversify CTS' Components and Sensors segment and bring new growth opportunities for sensor applications' safety systems and vehicle chassis management. Additionally, D&R brings strong sensor design and development engineering capabilities to complement CTS' world-class engineering team. D&R, founded in 1998, operates Lean Manufacturing facilities in Carol Stream, Illinois and Juarez, Mexico, with approximately 400 employees. It specializes in building advanced technology products that provide industry-leading and application-specific solutions. Key products include non-contacting chassis height position sensors, seat belt tension sensors, seat belt buckle switches and ABS (anti-lock braking system) wheel speed sensors. Newer products currently growing include seat track position sensors and current sensors for electric and hybrid vehicles. D&R has been widely recognized by customers for quality performance, including Flawless Launch Awards. Vinod Khilnani, CTS Chairman and CEO said, "This is a significant strategic acquisition for CTS. We are delighted to welcome D&R into the CTS family. It is an excellent fit and a synergistic addition to our faster growing Components and Sensors segment, bringing exciting new growth opportunities." About CTS Automotive Products CTS Automotive Products designs, tests and manufactures of automotive sensors, accelerator pedal modules, actuators and subsystems. Recognized for its customer responsiveness and expertise in high-volume automotive packaging, CTS Automotive Products manufactures sensor and actuator products in Elkhart, Indiana; Toronto, Canada; Glasgow, Scotland; Ostrava, Czech Republic; Matamoros, Mexico; Kaohsiung, Taiwan; and Zhongshan, China. The D&R acquisition adds operations in Carol Stream, Illinois and Juarez, Mexico. CTS Corporation D&R technology

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