TT Electronics, a global provider of engineered electronics for performance critical applications, announced it has officially completed the acquisition of Torotel, a US-based designer and manufacturer of high-reliability power and electromagnetic assemblies and components for the aerospace and defense markets. The acquisition increases TT’s capability in the design and development of power management devices and marks the latest addition to the company’s extensive global magnetics portfolio.
The acquisition of the Torotel business broadens TT’s power electronics capabilities and further expands the company’s presence in the US aerospace and defense market building on the recently acquired Covina, California-based business unit from Excelitas Technologies earlier in the year. Torotel extends TT’s list of blue-chip US aerospace and defense customers and provides access to growth programs with sole-sourced positions on major platforms. TT continues to be committed to investment that supports the acceleration of its growth prospects and increases the breadth and differentiation of its engineering capability.
Richard Tyson, CEO, TT Electronics said: “We are delighted to complete the acquisition of Torotel. It represents a fantastic fit within our existing US power electronics business, strengthens our position in critical defense applications and further develops our global electromagnetics design and manufacturing capability. We’re delighted to be able to welcome the Torotel team into the TT group.”
Michael Leahan, EVP, TT Electronics Power Solutions said: “Torotel is a great fit for TT supporting our strategy to build leading positions in high-performance, high-reliability markets such as aerospace and defense where the proliferation of electronics is driving increased demand for our custom power management and conversion systems. Torotel represents an exciting addition to TT Electronics and our global electromagnetics capability. We are thrilled to welcome the Torotel employees and customers to TT where we remain committed to providing the best service, products and value available.”