ATTLEBORO, Mass. - Sensata Technologies Inc., a leading designer and manufacturer of sensors and controls, announced that it has reached a definitive agreement with Chicago Growth Partners and Airpax senior management to acquire Airpax Holdings Inc., a manufacturer of components and systems for power protection, sensing, and control applications. The $276 million purchase is expected to be completed in July.
Headquartered in Cambridge, Md., with facilities around the world, Airpax is a leading worldwide manufacturer of customized hydraulic magnetic circuit breakers and certain thermostats and temperature sensors, and is a leading manufacturer of DC to AC inverters, electronic monitoring and control systems, and other sensors. Airpax serves original equipment manufacturers (OEMs) in the telecommunications, industrial, recreational vehicle, HVAC, refrigeration, marine, military, medical, information processing, electronic power supply, power generation, over-the-road trucking, construction, agricultural, and alternative energy markets.
The acquisition includes about 2,800 employees and sales, engineering, and production facilities in Cambridge and Frederick, Md.; White Bear Lake, Minn.; Oviedo, Fla.; and Brownsville, Texas, in the United States; Matamoros, Mexico; Sakado, Japan; and Shanghai, China.
Tom Wroe, Sensata Technologies chief executive officer, said that the transaction “further secures Sensata's position as a leading designer and manufacturer of sensing and electrical protection solutions for the residential, industrial, heating, ventilation, air conditioning, military, and mobile markets. The purchase also further expands Sensata's global footprint and offers opportunities for operational synergies across both organizations.”
For more information, visit www.sensata.com.