Meggitt has sold Ferroperm Piezoceramics to CTS Corporation
Ferroperm Piezoceramics specializes in the design and manufacture of high performance piezoceramic components for use in demanding medical technology (medtech), industrial and aerospace applications. The company is recognized among blue-chip companies worldwide for its high quality and innovative piezoceramic technology. Its components are critical to the performance of applications in fast growing niche markets, such as medical-focused ultrasounds (high-intensity focused ultrasound (HIFU) / focused ultrasound surgery (FUS)), condition monitoring sensors and medtech therapeutic devices. Based in Kvistgaard, Denmark, Ferroperm has established a strong customer base across Europe and North America.
The transaction ultimately completed with the sale of Meggitt PLC to CTS Corporation, shifting CTS’ business mix towards customer segments with demanding technology specifications, superior growth outlook and attractive returns.
John Hamilton, Managing Director in Lincoln’s Stockholm office, commented, “The process attracted great interest from performance ceramics organizations worldwide — it quickly became clear that bidders compelled by a strategic rationale would outcompete all other contestants by a wide margin. In this context, a key enabler was the ability to coordinate global advisor teams and access senior decision makers to negotiate with several parties in different time zones.”
Meggitt is a leading international company specializing in high performance components for the aerospace, defense and selected energy markets. Meggitt employs more than 9,000 people at nearly 40 manufacturing facilities and regional offices worldwide.
CTS (NYSE: CTS) is a leading designer and manufacturer of products that sense, connect and move. The company manufactures sensors, actuators and electronic components in North America, Europe and Asia, and provides engineered products to customers in the aerospace / defense, industrial, medical and transportation markets.
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