in Aerospace / Defence

TT Electronics to acquire Torotel

Posted 18 September 2020 · Add Comment

TT Electronics has agreed to acquire Torotel, a US-based designer and manufacturer of high-reliability power and electromagnetic assemblies and components for the aerospace and defence markets.



Image coiurtesy TT Electronics


The acquisition is one of several, recent demonstrations of TT’s commitment to continued investment in power management devices for the aerospace and defence market.

TT has agreed to acquire Torotel for $43.4 million. The acquisition is subject to approval by Torotel’s shareholders 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. TT is committed to investing in the business to further improve the business’ growth prospects and engineering capability.

Richard Tyson, CEO, TT Electronics said: “We are really excited about the acquisition of Torotel, a business we have been tracking 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. We look forward to welcoming the Torotel team into the TT group.”

Michael Leahan, EVP, TT Electronics Power Solutions said: “Torotel is a clear fit with TT’s strategy to build leading positions in the aerospace and defense markets where the proliferation of electronics is driving demand for our custom power management and conversion systems. We are excited to welcome Torotel employees and customers to TT, and remain committed to providing our customers with the best service, products and value available.”

 

 

Other Stories
Advertisement
Latest News

Virgin Galactic adds two to its Pilot Corps

Virgin Galactic today announced the appointment of two new pilots into its Pilot Corps, bringing the total number of pilots to eight.

IATA and ACI Europe urge governments to act to help airlines and airports

The International Air Transport Association (IATA) has presented new analysis showing that the airline industry cannot slash costs sufficiently to neutralise severe cash burn to avoid bankruptcies and preserve jobs in 2021, whilst

BMT appoints John Godwin as Asia Pacific Business Development Director

BMT has appointed John Godwin as Regional Business Development Director for the Asia Pacific region. The appointment comes as BMT is set to announce Singapore as its strategic hub for Asia.

BAE Systems to develop attritable air vehicle systems under USAF Skyborg programme

BAE Systems has been awarded an indefinite delivery/indefinite quantity contract to develop an attritable air vehicle system for the US Air Force (USAF) Skyborg programme.

Heathrow demand forecast revised downward

As Heathrow invests in UK aviationís most extensive array of COVID-secure technologies with new rapid testing tech helping to open up overseas markets safely, its latest forecast is for passenger numbers to be 22.6m in 2020 and 37.1m in

Tamarack fits first winglets at its Oxford Airport Installation Centre

Tamarack Aerospace has conducts the first series of Active Winglet installations on three Cessna Citation Jets at the new Tamarack European Installation Centre, based at London-Oxford Airport, UK.

ODU 0201311219
See us at
3CDSE BT0210030221Security & Policing 2021 BT