2023 Connector Industry Acquisitions
Suppliers reached deeper into connected systems and adjacent technologies to expand capabilities with strategic acquisitions in 2023. Our annual acquisitions roundup tracks growth and changes at connector companies.
The interconnect industry continues to become more interconnected as suppliers expand services, capabilities, products, and supply chains with strategic acquisitions. Several significant changes occurred in 2023 as companies reached for new expertise, product lines, regional access, and supply chain advantages by acquiring these strengths. Products related to RF capabilities, microwave technologies, military and aerospace, fiber optics, Test & Measurement, and materials are among the motivating factors in the year’s acquisitions. Since the 1980s, the electronics industry has seen hundreds of mergers and acquisitions. The pace of consolidation has greatly slowed, but 2023’s acquisitions roundup includes many significant moves.
January 2023
Smiths Interconnect Acquires Plastronics
Smiths Interconnect, a division of Smiths Group plc, acquired Plastronics Sockets & Connectors, a leading supplier of burn-in test sockets and patented spring probe contacts for the semiconductor test market segment, as well as custom connectors for industrial applications. Plastronics’ technology, products, and capabilities complement and strengthen Smiths Interconnect’s existing portfolio of products and support the company’s ambition to be the partner of choice for semiconductor test customers around the world.
“I am delighted to welcome Plastronics to the Smiths Interconnect family of technology brands. We are proud of our heritage supplying technically differentiated components critical to our customers’ products and operations,” said Smiths Interconnect President Julian Fagge. “Plastronics fits very well with our long-term strategy, adding new technology, products and capabilities to the business and strengthens our position across our customer base.” Plastronics is headquartered in Irving, Texas.
Schurter Family Places Majority Interest in SCHURTER Group in New Hands
Swiss investor Capvis, a specialist in midcap investments, acquired a majority interest in the Lucerne-based SCHURTER Group. The founding family and current owner of the group will retain an interest and will be represented on the board of directors by Thomas Schurter. Based in Lucerne with a total of 20 subsidiaries in 17 countries, the SCHURTER Group is a successful producer of components for ensuring the clean and safe supply of power, input systems, and sophisticated integrated electronic solutions.
“In the interests of business continuity, the family had jointly decided a few years ago that Cyrill Schurter, as a representative of the fourth generation, would assume management responsibility for the company in the medium to long term. The necessary steps had already been initiated and even finalized. After his tragic death in May 2021 as a result of an accident, there were no other potential successors from within the family as the other members of the fourth generation were already pursuing other career paths,” said Thomas Schurter. “Following intensive discussion and careful consideration, the owner family decided to sell a majority interest in order to ensure the company’s continued success.” Capvis specializes in holding majority interests in leading SMEs in Switzerland, Germany, Austria, and Italy. “Swiss quality and innovation are our guiding principles,” said Boris Zoller, managing partner of Capvis. “SCHURTER has been demonstrating this for years with its successes and is thus ideally positioned to continue performing successfully on growth markets around the world.”
Wieland Acquires Heyco Metals and National Bronze Manufacturing
Wieland acquired Heyco Metals, a leader in light and medium gauge copper, copper alloy, and stainless-steel strip processing, and National Bronze, a manufacturer and distributor of bronze-based bearing products. Hummock Industries is a family-owned holding company focused on long-term investments in North American-based manufacturing companies. These complementary operations will further strengthen Wieland’s market position with expanded product offerings, manufacturing capabilities, and distribution networks in North America.
TLC Acquires Shuster Electronics
TLC, a contract manufacturer and factory-authorized distributor of electromechanical and interconnect components based in St. Paul, Minnesota, acquired Schuster, an-Ohio-based provider of global sourcing solutions for components in a deal announced in late 2022. TLC is a second-generation, family-owned business. Together, the new TLC Electronics represents over 50 manufacturers of high-quality electronic components and provides quality, custom assembly of cable and wire harnesses for medical, agricultural, industrial, and autonomous applications.
“The addition of Schuster to the TLC organization brings together two companies that have grown by taking excellent care of their customers,” said Jon Crofford, CEO and owner of TLC Electronics. “We will continue to provide that high level of service and quality. We have been fortunate to add over 30 new franchised lines to the new organization to better supply our customers.”
February 2023
Infinite Electronics Inc. Acquires Cable Connectivity Group
Infinite Electronics Inc. acquired Cable Connectivity Group (CCG) from Torqx Capital Partners and TKH Group NV. Headquartered in the Netherlands, CCG’s brands operate across Europe, with offices and production and distribution facilities in Netherlands, Germany, Italy, France, Belgium, Poland, and China. Serving the global industrial and electronics markets, CCG’s brands are leading suppliers of cables, ready-to-connect cable systems and accessories under the brands TKD, KC Industrie, Capable, Schrade Kabeltechnik, Jobarco, Pantaflex, and ConCab. This acquisition further establishes Infinite Electronics’ presence in Europe and comes after the company acquired Bulgin Ltd.
May 2023
ITT Inc. Acquires Micro-Mode Products
ITT Inc. acquired privately held Micro-Mode Products Inc. Micro-Mode is a specialty designer and manufacturer of high-bandwidth radio frequency (RF) connectors for harsh environment defense and space applications. Micro-Mode has been qualified on numerous U.S. space and defense programs for more than 30 years. Micro-Mode’s differentiated miniature and high-frequency design capabilities will enhance ITT’s product portfolio and customer base, specifically for long-term defense programs. Micro-Mode holds leading positions in the defense and space connector industries and its high-reliability connectors are the product of choice for many mission-critical applications.
The acquisition of Micro-Mode grows ITT’s existing North America connectors platform, which is part of its Connect & Control Technologies (CCT) segment. Micro-Mode also provides ITT further access to attractive segments and applications in space and defense, with a total addressable market of more than $4 billion. With its proven engineering and quality capabilities, the company maintains a highly defensible niche with sole source positions on attractive U.S. defense programs.
North American Interconnect Acquires KSM Electronics
North American Interconnect (NAI), a global leader in the engineering and manufacturing of advanced high-performance interconnect solutions for mission-critical industrial technology, medical, and telecommunications applications, acquired KSM Electronics (KSM). This acquisition delivers new aerospace & defense capabilities and certifications to NAI, while also strengthening NAI’s position as a leading interconnect solutions provider for the industrial technology and medical end markets.
Maury Microwave Acquires Wireless Telecom Group
Maury Microwave, a provider of RF calibration, measurement, emulation, and modeling solutions backed by Artemis Capital Partners, acquired the Wireless Telecom Group, a Test & Measurement business comprised of Boonton, Holzworth, and Noisecom. WTT has served as a trusted technology solutions partner to many of the world’s leading manufacturers in the wireless technology chain across aerospace, defense, satellite communications, semiconductor, quantum and directed energy applications.
June 2023
PEI-Genesis Acquires Bel Stewart s.r.o.
PEI-Genesis acquired Czech Republic-based Bel Stewart s.r.o., a manufacturer and supplier of passive systems in the field of data and telecommunication interconnection technologies. Bel Stewart s.r.o. – which will now be known as PEI-Genesis – consists of two divisions where one operates as a distributor of other connectivity products and the other a manufacturer of copper and fiber cable assemblies serving end markets including telecommunications, networking, banking, and public administration.
“We consider ourselves to be the industry’s trusted advisors focused on solving our customers’ interconnect problems,” said Steven Fisher, president & CEO of PEI-Genesis. “This acquisition enhances that capability, further encouraging our customers to partner with us for a broader range of products and services.”
Auxo Investment Partners Acquires SOS Manufacturing
Private investment firm Auxo Investment Partners acquired SOS Manufacturing, a manufacturer of specialized wire harnesses, cable assemblies, and complete box builds for customers in the computing, aerospace, agricultural, appliance, automotive, electronics, and food processing industries. The addition, which expands Auxo’s growing wire harness and cable manufacturing platform, comes on the heels of several acquisitions, including Golden State Assembly (GSA), a vertically integrated, complete lifecycle wire/cable assembly and harness manufacturer, as well as Morgan Royce Industries (MRI) and TACK Electronics—both manufacturers of custom wire harnesses, cable assemblies and box builds.
Delta Electronics Inc. Acquires TB&C Group
Delta Electronics Inc. acquired HY&T Investments Holding B.V. and its subsidiaries, including TB&C Group, a leading provider of automotive high-voltage hybrid components. TB&C, with its operational headquarters in Germany, develops industry-leading hybrid technologies for mechanical components applied in automotive, industrial, and medical applications. Its customer base includes world-class automotive companies, as well as tier-1 automotive suppliers.
July 2023
Trexon Acquires 603 Manufacturing (an RF Logic Company)
Trexon, a portfolio company of Audax Private Equity, a leading provider of connectivity solutions for mission-critical applications, acquired 603 Manufacturing, a value-added manufacturer of high-performance wire and cable assemblies and RF/microwave coaxial cable assemblies.
“The acquisition of 603 Manufacturing brings a customer-focused organization with a level of expertise and experience aligned with our vision,” said Trexon CEO and President Mark Twaalfhoven. “603’s products enable crucial technologies driving key megatrends, particularly in commercial space, focusing on avionics for rocket engines, and cutting-edge harnesses for satellites. We aim to benefit from their expertise fostering the growth of our shared business.”
Bulgin Acquired by Infinite Electronics
Infinite Electronics Inc., a global portfolio of connectivity solution brands, acquired Bulgin Ltd, a UK-based developer and manufacturer of connectors and related components for harsh-environment applications. Bulgin was previously owned by Equistone Partners Europe, a leading European mid-market private equity firm.
“By welcoming Bulgin to Infinite Electronics’ growing brand portfolio, we are better positioned to meet the increasing demand for reliable connectivity solutions for harsh environments,” said Infinite Electronics President and Chief Executive Officer Penny Cotner. “Bulgin’s focus on mission-critical, customizable components with outstanding design and customer support aligns with our own longstanding reputation for delivering our customers what they need, when they need it most.”
Bulgin has a century of experience designing, developing, and manufacturing IP66, IP67, IP68, and IP69K harsh environment connectivity solutions for end-users across a wide range of industries. Bulgin’s business focuses on bespoke services and custom capabilities with quick prototyping and a Rapid Response Team (RRT) to address customers’ urgent needs. Since Equistone’s acquisition of the business in 2019, Bulgin has grown significantly, opening a new site in Tunis, Tunisia, and new headquarters in Cambridge, U.K. Bulgin has more than 600 distributor locations spanning 60 countries and six continents.
Amphenol Acquires Eby Electro
Amphenol acquired EBY Electro, a leading manufacturer of terminal blocks and connectors for applications such as industrial, commercial, and residential. Products include EB4862, EB530, and EB4885, and services such as RoHS, REACH, and Conflict Minerals compliance complement EBY’s easy wiring, installation, samples, and supply chain solutions.
Wieland Acquires Farmers Copper
Wieland acquired Farmers Copper Ltd., a leading copper, brass, and bronze alloys supplier in North America. Founded in 1980, the company has a long-standing customer base across aerospace, marine, defense, oil & gas, and electrical market segments. The company has two sites in Texas, with headquarters located in Texas City and another facility located in San Antonio.
“With the acquisition of Farmers Copper Ltd., we further strengthen Wieland’s large footprint and broad market participation in North America. Our growing customer base will benefit from an enlarged portfolio of high-end product solutions and excellent service offerings,” said Dr. Erwin Mayr, CEO of the Wieland Group.
FIT (Foxconn Interconnect Technology) Acquires Prettl SWH GmbH
FIT acquired Prettl SWH GmbH, one of the leading developers and manufacturers of sensor, connectivity, and electrification solutions, to become a core pillar of FIT’s mobility division. The new company name FIT Voltaira Group GmbH fully aligns with FIT’s strategic development direction in the EV mobility business and is expected to create new growth engines for the Group. With this acquisition, FIT expands its global talent pool in the automotive and EV mobility business.
September 2023
AMETEK Acquires United Electronic Industries
AMETEK Inc. acquired United Electronic Industries (UEI), a leading provider of data acquisition and control solutions for the aerospace, defense, energy, and semiconductor industries. UEI specializes in the design and manufacture of high-performance Test & Measurement, simulation, and control solutions that enable customers to build smart, reliable, flexible, and rugged systems. The company’s products are used in a variety of mission-critical applications, including flight simulation and training, machine health and usage monitoring, and automated testing. UEI will join AMETEK as part of its Electronic Instruments Group (EIG) – a leader in advanced analytical, monitoring, testing, calibrating and display instrumentation.
Carlisle Companies Announces a Process to Sell Carlisle Interconnect Technologies
CarlisleIT designs and manufactures high-performance wire and cable, including optical fiber for the commercial aerospace, military and defense electronics, medical device, industrial, and Test & Measurement markets. CIT’s product portfolio also includes sensors, connectors, contacts, cable assemblies, complex harnesses, racks, trays, and installation kits. CIT also provides engineering and certification services to its customers.
Chair, President, and Chief Executive Officer Chris Koch said, “Our announced plan to sell CIT and completion of a transaction will be the final step in accomplishing Carlisle’s pivot to a pure play building products company employing a superior capital allocation approach to investments. CIT is an excellent business operating in the highly desirable aerospace and medical segments with excellent growth prospects.”
Amphenol Acquires Q Microwave Inc.
Amphenol Corporation acquired Q Microwave. Q Microwave is a designer and manufacturer of mission-critical radio frequency components utilized in military platforms with annual sales of approximately $20 million. Q will be included in Amphenol’s Harsh Environment Solutions Segment.
Amphenol Corporation Acquires Connor Manufacturing Services Inc.
Amphenol Corporation acquired Connor Manufacturing Services Inc., a global manufacturer of power interconnect products including high voltage busbars for the automotive and industrial markets with annual sales of approximately $100 million. Connor will be included in Amphenol’s Interconnect and Sensor Systems Segment.
Amphenol Acquires XMA Corporation
Amphenol Corporation acquired New Hampshire-based XMA Corporation, a provider of radio frequency components for the military and IT datacom markets with annual sales of approximately $15 million. XMA will be included in Amphenol’s Harsh Environment Solutions Segment.
October 2023
JAE Acquires a Stake in AIO Core
Japan Aviation Electronics Industry Ltd. (JAE) acquired a stake in AIO Core Co. Ltd. to form a capital and business alliance and jointly develop an automotive AOC (active optical cable) in anticipation of the future shift to optical in-vehicle networks. AIO Core, a startup established in 2017, specializes in optical modules and aims to commercialize IOCore, the world’s smallest class of optical modules developed by the Photonics Electronics Technology Research Association (PETRA), optical connectivity solutions based on state-of-the-art silicon photonics technology to be ultra-compact, high-speed, and highly reliable across a wide temperature range. The use of optics in in-vehicle information networks is being explored to enhance speed, reduce weight, and minimize noise. This technical alliance seeks to facilitate the joint development of in-vehicle AOC.
Trexon Acquires C.E. Precision Assemblies
Trexon, a portfolio company of Audax Private Equity and a leading provider of specialty connectivity solutions for mission-critical applications, acquired C.E. Precision Assemblies Inc. (CEPA), an industry-recognized value-added manufacturer of RF/microwave build-to-print flexible and semi-rigid cable assemblies, as well as molded, and braided wire harnesses. This acquisition represents Trexon’s ongoing commitment to expanding its presence in the military and aerospace markets.
“The addition of C.E. Precision brings a wealth of experience and expertise in cable assembly and wire harness solutions that support our strategic vision of delivering high quality, mission-critical assemblies,” said Mark Twaalfhoven, president and CEO of Trexon.
KYOCERA AVX Acquires Bliley Technologies
KYOCERA AVX, a leading global manufacturer of advanced electronic components engineered to accelerate technological innovation, acquired Bliley Technologies, a worldwide leader in the design and development of innovative, low-noise frequency control products with more than 65 years of space heritage in low Earth orbit (LEO) and geostationary equatorial orbit (GEO) applications.
“We are very pleased to welcome members from the Bliley Technologies team to KYOCERA AVX and are very excited to further expand our crystal devices portfolio with the disruptive technologies they’ve developed, which will allow us to better serve sophisticated customers in the demanding military, aerospace, and defense markets,” said Kio Ariumi, senior VP, operational integrations, KYOCERA AVX. “The asset transfer acquisition provides more than 20 patents for key positioning, navigating, and timing technologies as well as an accomplished staff and an advanced manufacturing facility with several crucial certifications and qualifications, all of which will further strengthen our presence in these essential markets.”
Bliley Technologies manufactures innovative low-noise crystal and oscillator products in Erie, Pennsylvania, and is one of the only U.S.-based companies to manufacture both — from front end to final finishing — within the same facility. Close collaboration between Bliley’s crystal oscillator and mechanical engineers and its production team has resulted in the development of some of the most successful solutions available in the global frequency control industry, including its low-power oven-controlled crystal oscillator (OXCO) technology, which offers superior holdover performance compared to micro electromechanical systems (MEMS) and temperature-compensated crystal oscillators (TXCO) at a fraction of the power budget.
Indium Corporation Acquires SAFI-Tech to Advance Low-Temperature Soldering Technology
Indium Corporation, an international electronics materials refiner, smelter, manufacturer, and supplier, acquired SAFI-Tech, a metal microcapsule technology innovator specializing in supercooling technology. In 2022, Indium Corporation collaborated with SAFI-Tech to launch a supercooled BiSn solder paste using the latter’s innovative solder platform. This patented technology platform allows molten metal to remain liquid far below its freezing point by encapsulating it in a smooth shell, known as supercooling. The shell of these microcapsules can be removed using a traditional flux and reflow process or by mechanically crushing a powder of supercooled liquid metal microcapsules. Using this platform, industry-standard alloys such as SAC305 can be soldered at below typical low-temperature solder (LTS) specifications, while other alloys can be soldered at temperatures as low as ambient.
December 2023
AMETEK Acquires Paragon Medical
AMETEK Inc. acquired Paragon Medical, a leading provider of highly engineered medical components and instruments, from affiliates of American Securities LLC,.
“We are excited to welcome the Paragon team to AMETEK,” said AMETEK Chairman and Chief Executive Officer David A. Zapico. “Paragon’s outstanding capabilities and market leadership align seamlessly with AMETEK’s commitment to delivering high-performance solutions, further broadening our presence in the attractive MedTech industry.”
Paragon Medical serves a wide range of specialty applications including orthopedics, minimally invasive surgery, robotic surgery, and drug delivery. Paragon’s product portfolio includes single-use and consumable surgical instruments and implantable components, including contacts and wire products, sold to a diverse blue-chip customer base of leading medical device manufacturers.
Mencom Acquires ELIM
Mencom Corporation, a leading global manufacturer of industrial electrical connectors, acquired ELIM spol. s r.o., a leading producer of wiring harnesses located in Volary, Czech Republic. ELIM, founded in 1993, is a manufacturer of wiring harnesses, serving diverse industries such as automotive, military, food processing, medical, space, air, and sea transport. This strategic expansion positions Mencom to better serve its European customers by providing top-tier connector solutions directly from a local facility.
Amphenol Acquires PCTEL
Amphenol Corporation acquired PCTEL Inc., a leading global provider of wireless technology solutions. PCTEL was incorporated in 1994 and is headquartered in Bloomingdale, Illinois. The company provides industrial Internet of Things devices, antenna systems, and Test & Measurement solutions. The company’s antenna portfolio includes Wi-Fi, Bluetooth, land mobile radio, tetra, global navigation satellite systems, cellular, industrial, scientific, medical, long range, and combination antenna solutions for use in public safety and military communications, utilities and energy, precision agriculture, smart traffic management, and electric vehicle charging.
Amphenol Corporation acquired TPC Wire & Cable
Amphenol Corporation acquired TPC Wire & Cable Corp., a value-added provider of harsh environment cable and cable assemblies for the industrial market based in Ohio, during the fourth quarter ended December 31, 2023. TPC will be included in Amphenol’s Harsh Environment Solutions Segment.
See Connector Supplier’s roundup of 2022 industry acquisitions.
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