Huntsville-based Teledyne Brown Engineering has acquired a British-based company in a move to significantly increase its manufacturing capabilities.
TBE has had a strategy to grow its manufacturing business for at least the last three years, said Rex D. Geveden, TBE's President. "Acquisition of this business just reinforces our strategy to grow our manufacturing."
"It gives us more scale, more depth to our manufacturing capabilities," he said.
CML Group, based near Liverpool, was part of Intelek, which was acquired by California-based Teledyne Technologies in July. The total value of that transaction is about $52 million, including Intelek's stock options, net debt and pension deficit.
Read the full article here.
