BASINGSTOKE, UK – Volex acquired 51% majority stake in electronics design and manufacturing services firm inYantra Technologies for $13 million. The deal includes the $5 million purchase of 13.5 acres of industrial land.

The equity investment and property purchase will be in cash on completion from the company's existing debt facilities.

"The equity investment strengthens Volex's ability to provide flexibility and choice to its global customer base in the provision of its vertically integrated solutions, by adding a new manufacturing region to its unique international operating footprint," Volex said in a statement.

The site expansion offers the ability to construct a new 100,000 sq. ft. medical and industrial technology cable assembly facility. Volex plans to expand in consumer electrical and electric vehicles.

"This transaction offers an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy and will bring new and strengthened capabilities in key Indian market,” said Nat Rothschild, executive chairman, Volex. “inYantra's existing business, along with the imminent development of a complex cable assembly capability, will improve our customer offering, supporting low-cost manufacturing for existing and new domestic and export customers."

Volex provides integrated manufacturing services and power products. inYantra provides PCB assembly and box-build.

Volex expects accelerated growth for the next five years.