Volex to acquire TT Electronics for £249m.

Volex, a leader in mission critical applications and power and data connectivity solutions, agreed to acquire TT Electronics, an electronic connector manufacturing company, for £249m ($315m). "We believe that bringing Volex and TT Electronics together in a highly synergistic transaction would create a scaled and diversified leader in the specialist electronics market which would act as a platform for future organic and inorganic growth and significant value creation. TT Electronics would provide the Group with further exposure to structural growth markets, such as medical and industrial technology, and add a new end-market, aerospace and defence, to progress Volex's successful strategy of diversification. At the same time, TT Electronics would benefit from being part of a larger group with stronger performance and the associated opportunities for revenue and cost synergies to deliver higher profitability," Lord Rothschild, Volex Executive Chairman.