CTS Corp. (CTS) announced the acquisition of D&R Technology , a privately-held company with annual sales of approximately $50 million.
D&R is a 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. The company expects the transaction to be accretive to its earnings in the first year.
D&R, founded in 1998, operates Lean Manufacturing facilities in Carol Stream, Illinois and Juarez, Mexico, with approximately 400 employees. D&R 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 anti-lock braking system (ABS) wheel speed sensors.
For comments and feedback: editorial@rttnews.com