TARM, DENMARK – GPV signed an agreement to acquire fellow EMS company CCS for some $121.3 million on a debt-free basis.

The agreement is subject to approval and is expected to be completed by the end of 2018.

The CCS Group specializes in electronics, system integration and cable harness manufacturing. The electronics manufacturer reported revenue of $212.2 million and EBITDA of nearly $15.2 million last year.

With the completed transaction, the firm will have production facilities in Asia, Europe and the Americas, about 3,700 staff and combined revenue of about $394.2 million.