Coming off a robust growth year in 2018, TT Electronics, a global provider of magnetic components and engineered electronics has acquired Power Partners, a provider of medical and industrial specialist power products for the North American market.
The deal was announced by TT in March, but price was not disclosed. Power Partners is based in Boston, Massachusetts, and complements TT’s global power electronics business with new products and design capabilities. This also builds TT’s competitive advantage in the connected health arena, tapping into Power Partners’ expertise in power solutions design for a broad spectrum of medical applications.
Also in March, the company posted its annual financial performance for 2018 showing a 19% revenue increase to 429 EU for the year, a level bolstered by other recent acquisitions along with a general rise in business. Profits rose 43% to 31.5 EU.
This acquisition supports TT’s global growth strategy, to expand its focus on design-led technology solutions and value-added complementary products. Building on recent acquisitions of Stadium Group plc and Precision Inc., this business activity is integral to TT’s emphasis on innovation, higher margins, and a strong position in complex electronics design and manufacturing. TT systems and solutions are underpinned by design and integration capabilities and dedicated R&D centers focused on technology developments in power management, internet connectivity, human machine interfaces (HMI), and single board computing (SBC).
“Power Partners’ medical and industrial expertise drives strong synergies and cross-sell opportunities with other TT power solutions offerings. Together we are well-positioned to streamline the supply chain, reduce time to market, and fuel our mission to simplify the complex,” said Charlie Peppiatt, executive vice president of IoT Solutions for TT, which is based in the UK.
Power Partners also serves industrial customers in applications including telecommunications, printers, test and measurement instruments, factory automation, industrial controls, and consumer communications/networking devices.
For more information, visit https://www.ttelectronics.com/