Littelfuse plans to acquire C&K Switches at an enterprise value of $540 million. Founded in 1928, C&K Switches is a leading designer and manufacturer of high-performance electromechanical switches and interconnect solutions with a strong global presence across a broad range of end markets, including industrial, transportation, aerospace, and datacom. Headquartered in Waltham, MA, with facilities located around the world, C&K Switches has annualized sales of over $200 million.
Deepak Nayar, Littelfuse’s senior VP and general manager of the Littelfuse Electronics Business unit, said in the press release that the addition of C&K Switches will enhance the company’s presence and growth in its 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," he said.
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 will share additional details about C&K Switches during the company’s first quarter of fiscal 2022 earnings conference call.