Littelfuse, an industrial technology manufacturing company, said it has entered into a definitive agreement with an affiliate of Sun Capital Partners to acquire C&K Switches at an enterprise value of $540 million. Founded in 1928, C&K Switches is a designer and manufacturer of electromechanical switches and interconnect solutions with a global presence across a range of markets including industrial, transportation, aerospace, and datacom. The company, headquartered in Waltham, Massachusetts, has annualized sales of over $200 million.
"We are excited to welcome C&K Switches employees to the Littelfuse team," said Deepak Nayar, Senior Vice President and General Manager, Littelfuse Electronics Business. "With its strong brand reputation, a long history of design excellence and high-performing products, the addition of C&K Switches will enhance our presence and growth in our target markets. Our complementary go-to-market models — through a combination of direct sales and channel distribution — and expanded product portfolio will serve as a platform for future growth.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close during the second calendar quarter of 2022. C&K Switches will be reported within the company’s Electronics reporting segment. Littelfuse expects to finance the transaction consideration through a combination of cash and debt.
Littelfuse said will share additional details about C&K Switches during the its first quarter of fiscal 2022 earnings conference call.