TORONTO—Celestica Inc. is adding to its aerospace business with the acquisition of Minnesota-based Atrenne Integrated Solutions Inc.
The Canadian electronics manufacturer will pay US$139 million in cash for Atrenne, which makes electronic components primarily for commercial and military aircraft.
The company has two U.S. manufacturing sites—in Massachusetts and Minnesota—as well as a facility in Xiamen, China.
“This acquisition will advance our strategic direction to expand our capabilities, improve our diversification and bolster our leadership position within Aerospace and Defense,” Rob Mionis, Celestica’s president and CEO, said in a statement.
The deal needs to the clear customary regulatory hurdles before going through, but is expected to close in the second quarter of this year.