Olathe-based Torotel, Inc. to merge with TT Electronics

Specialized design and manufacturing company Torotel has entered a definitive merger agreement with TT Electronics, the latter to acquire Torotel for $43.4 million in cash, which will help expand its presence in the U.S.

Torotel, Inc. recently entered into a definitive merger agreement with TT Electronics in a cash deal worth $43.4 million.

Olathe-based Torotel specializes in the custom design, manufacture and sale of a variety of precision magnetic components for the defense, aerospace and energy sectors, which will soon combine with TT Electronics service as a global provider of engineered electronics for performance-critical applications.

TT Electronics’ $43.4 million offer results in merger consideration of $6.17 per share in cash to Torotel shareholders, according to a news release from Torotel. The transaction will be fully funded in cash by TT’s separately announced equity placement.