BUCKINGHAMSHIRE, ENGLAND -- TT Electronics, one of England's largest native EMS companies, has acquired the majority of the UK business and assets of ACW Technology Ltd.

TT paid £3.1 million, including the repayment of existing debt facilities, and will acquire net assets of £3.8 million. The company expects to incur one-time restructuring costs of approximately £900,000 in 2012 and £1.1 million in 2013 in connection with the acquisition. The acquisition is expected to deliver incremental revenue in 2013 of more than £25 million and will be immediately accretive to earnings.

As part of the deal, ACW, which is in administration, has agreed to transfer associated production from its subsidiary in Zhuhai, China, to TT Electronics' facility in Suzhou. The deal does not include ACW's China plant, however.

The acquired business provides manufacturing services to leading global customers in the defense, aerospace and industrial markets and will be integrated into the TT Electronics' IMS division.

TT group chief executive Geraint Anderson said, "This acquisition provides an opportunity to further strengthen our IMS division and brings with it world class customers in our target markets, many of whom we already work with. We continue to identify and evaluate potential acquisitions to enhance the development of our Sensors and Components divisions which supply leading manufacturers in the defence, aerospace, medical, transportation and industrial markets."

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