DiscoverIE acquires manufacturer of circuit board enclosures
CDT, a designer and manufacturer of customised plastic enclosures for circuit boards, membrane keypads and associated electronics components, has been acquired by electronics designer and manufacturer, discoverIE.
CDT, based in Northamptonshire, UK, will be integrated with the Group’s Contour business cluster within the Sensing & Connectivity division, a press release reads.
The acquisition is said enhance the cluster’s engineering capabilities, further integrating custom electronic designs with their enclosures, enabling more highly differentiated opportunities. Its main markets are medical, renewables, emergency vehicles and industrial companies.
The acquisition of the CDT group continues our strategy of building a high quality, higher margin international group that designs and manufactures customised electronics. CDT will be integrated with our existing Contour business enabling more complex and integrated designs as well as providing CDT with access to our wider base of customers and with it, new sales opportunities. We are delighted to welcome CDT and its employees into the Group, Nick Jefferies, Group Chief Executive of discoverIE, said in the press release.
DiscoverIE acquires CDT for a total cash consideration of £5.0m on a debt free, cash free basis, before expenses, funded from the Group's existing debt facilities.