Electronic components provider Knowles Corp (NYSE: KN) has entered into a definitive agreement to acquire Cornell Dubilier (CD) in an all-cash transaction.
The total cost of the acquisition is $263 million, with a $140 million cash payment at closing and an interest-free seller note of $123 million.
South Carolina-based Cornell Dubilier is a manufacturer of high-quality film, electrolytic and mica capacitors used in demanding medtech, military, aerospace, and industrial electrification applications.
Cornell Dubilier has an annualized revenue of more than $135 million and over 35 thousand customers.
The acquisition is expected to expand Knowles' serviceable available market through Cornell Dubilier's capacitor offerings.
The combination of Cornell ...