Printed circuit board maker TTM Technologies Inc. is establishing a European footprint through acquisitions in Switzerland and Germany, expanding its presence in the aerospace, defense and medical markets.
TTM said on June 17 it has agreed to purchase Swiss Technology Group AG of Zurich and ILFA GmbH of Hanover.
Financial details of the separate, all-cash transactions for the privately held firms were not disclosed though TTM said they were “smaller but meaningful.”
TTM said it expects the transactions to close in the third quarter of 2026.
In another sign of the company’s expansion, TTM said it is opening a $130 million manufacturing plant in the central New York town of Dewitt that will provide up to 400 jobs. The company has 18,200 employees, including 500 in Orange County.
TTM will produce ultra-high-density interconnect printed circuit boards will primarily be used for U.S. defense applications.
The company, which plans to move to Irvine from Santa Ana, is benefiting from demand from the defense industry and AI boom.
The company’s circuit boards hold powerful semiconductors in place in nearly all electronic products today.
Some printed circuit boards can have up to 80 layers and are becoming increasingly sophisticated, with capabilities ranging from modules and subsystems to full-fledged systems.
TTM gained widespread attention as its share price surged this year before taking a hit when it moved to the Russell 1000 Index in June.
The shares were trading at $153.46 apiece on July 6 for a market cap of $16 billion, up from $41.88 a year earlier but well off the $223.83 reached shortly before the move from the Russell 2000 to the Russell 1000 was announced. (Nasdaq: TTMI).
European Importance
The European acquisitions would add strategic printed circuit board and materials capabilities in medical, aerospace and defense and other markets, TTM said.
STG boasts a global customer base that includes leading manufacturers in surgical robotics, hearing aids, medical imaging and implantable solutions.
ILFA has a 45-year legacy as a German provider of complex printed circuit board products spanning aerospace & defense, industrial and medical technology markets.
“Consistent with our updated long-term strategy, these smaller but meaningful acquisitions establish our initial footprint in the important European market, adding healthy ‘long-cycle’ businesses with strategic technology capabilities to the TTM portfolio, reinforcing our ‘up the chain’ value-add technology approach,” Edwin Roks, president and CEO of TTM said in a June 17 statement.
Modestly Accretive
TTM said the combined acquisitions are expected to be immediately, “albeit modestly,” accretive when completed following regulatory approvals and excluding purchase accounting adjustments and similar factors.
TTM’s printed circuit boards are used in industries ranging from aerospace and defense to automotive, medical and data centers.
The company said it expects to provide additional insight for investors during its formal second quarter earnings call that is currently projected for early August.
