Volex completes acquisitions of Prodamex SA de CV and Terminal & Cable TC Inc.
Jan. 04, 2022
Volex has announced the completion of our acquisition of Prodamex SA de CV and Terminal & Cable TC Inc. for a total cash consideration of CAD$22.5 million (USD$17.8 million).
Prodamex operates from an advanced manufacturing facility serving customers in Mexico, USA, and Canada. It brings to Volex additional higher volume manufacturing capability in Central Mexico, complementing the existing manufacturing plants in Tijuana and Juarez, providing customers with additional sourcing flexibility and production capacity.
TC’s facility in Quebec, Canada provides Volex with ruggedised wire harness manufacturing capabilities focusing on the attractive “off-highway” market sector, supporting defence, industrial, agricultural and construction machinery customers.
Commenting on the acquisition, Nat Rothschild, Executive Chairman of Volex said, “The completion of the TC and Prodamex acquisitions increases our geographic coverage and technical capabilities in the key North American market. TC provides further expansion into defence markets following our recent acquisition of Irvine Electronics. Prodamex complements our strong, global proposition for domestic appliance manufacturers, giving us added scale and reach. The acquisitions support our strategy of developing Volex’s presence in attractive sectors where we can leverage our expertise and global reach to achieve profitable growth.”
The full announcement is available here.