American Made Advocacy: Smart Policies Can Ensure AI Data Centers Are Secure
Beyond the Board: Early Engagement Means Faster Prototyping for Defense Programs
Defense Speak Interpreted: The Autonomous Plane Battle—Skyborg Vs. Loyal Wingman
Cicor Acquires TT Electronics IoT Solutions
March 4, 2024 | Cicor Technologies Ltd.Estimated reading time: 1 minute
The Cicor Group has signed an agreement to acquire TT Electronics IoT Solutions Ltd, with three production sites in the UK and China.
The combination of the sites acquired from TT Electronics PLC and the Cicor companies Axis Electronics (integration 2021) and STS Defence (integration 2024) will not only create the new leader in the UK EMS market but will also make Cicor a European market leader in the production of high-end electronics for aerospace and defence applications. With this transaction Cicor has taken another step forward in implementing its strategy to become the European leader in electronics manufacturing services for medical technology, industry, aerospace and defence.
TT Electronics IoT Solutions Ltd employs more than 500 people at its sites in Hartlepool and Newport in the UK and Dongguan in China and has a total production area of around 25,000 square meters. In the last financial year, sales of GBP 70.2 million were achieved by the acquired entities with a mid-single-digit operating margin (adjusted EBITDA). Cicor expects that after completion of the integration process, the EBITDA margin of the acquired businesses will be raised to a level close to the rest of the Cicor Group. In particular, the acquired production sites provide much-needed growth reserves for local production in the UK. The successful production site in Dongguan will be integrated into the Cicor Group's Asian production network.
Cicor is paying GBP 20.8 million on a cash and debt free basis subject to normal working capital adjustments. The transaction is expected to close in the first quarter of 2024, has received all required regulatory approvals and is subject to customary closing conditions.
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Cicor to Acquire UK-Based TT Electronics with Board Support
10/30/2025 | Cicor Technologies Ltd.Cicor is a globally active provider of full-cycle electronic solutions (EMS) for the healthcare technology, industrial, and aerospace & defense sectors. TT is a UK-based, London Stock Exchange-listed global provider of engineered electronics for performance critical applications.
Cicor Acquires Two Production Sites from Valtronic, Marking its Entry into the US Market
10/28/2025 | CicorThe Cicor Group has signed an agreement to acquire two production sites from the Western Switzerland electronics supplier Valtronic on 27 October 2025.
Cicor Posts Strong Order Intake in a Continued Challenging Environment
10/15/2025 | CicorThe Cicor Group continued its growth path during the third quarter of 2025. Quarterly sales increased by 33% to CHF 160.1 million (YTD: CHF 440.8 million, an increase of 25.4%).
Cicor Completes Acquisition of MADES, Strengthens A&D Market Leadership and Sees No Material Impact from US Tariffs
08/04/2025 | Cicor Technologies Ltd.The Cicor Group announces the closing of the acquisition of 100% of the shares in Spanish electronics company MADES S.A.U., headquartered in Málaga (Spain), from the French Latecoere Group.
Cicor Grows Double-Digit Again and Creates Strong Foundation for Further Expansion
07/23/2025 | Cicor Technologies Ltd.In the first half of 2025, Cicor Group took a significant step towards its ambition of becoming the pan-European leader in its chosen markets as announced in the strategy 2028, expanding market presence into France and Spain.