Simclar, Inc., a multi-plant electronics contract manufacturer, announced today that it has completed the acquisition of certain assets of the Northrop Grumman-owned Litton Interconnect Technologies assembly business in the US into Simclar Interconnect Technologies, Inc., a newly-formed wholly owned subsidiary of Simclar, Inc. As part of the same transaction, Simclar, Inc.’s parent company, Simclar Group Limited has also acquired certain assets of the Litton Interconnect Technologies assembly business in the UK and China through its subsidiary Simclar Interconnect Technologies Limited. The total purchase price was $28 million and was financed through a credit facility with the Bank of Scotland.
Litton Interconnect Technologies’ assembly business is a world-leading supplier of high-performance backplane interconnect solutions to major blue-chip customers in markets as diverse as network, wireline and wireless infrastructure, defense and electronic data processing. Backplane interconnect systems form the core of high-end electronic systems and provide the means for power distribution and data communications between electronic sub-system building blocks.
Simclar, Inc. Chairman, Sam Russell, commented: “We are pleased the acquisition has been completed and excited about the major source of competitive advantage we are able to offer our customers as a result of this transaction. The combination of our advanced backplane interconnect solutions with our capabilities to supply printed circuit board assemblies, metal fabrication, cabling solutions and higher level assemblies will create a valuable one-stop-shop for OEM system design and integration needs.”
About Simclar, Inc.
Simclar, Inc. has six North American manufacturing locations and 30 years experience providing contract manufacturing of electronic and electro-mechanical products for OEMs.