M&A - CTS CORP

Form Type: DEF 14A

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525066333

Filing Summary: CTS Corporation reported progress on its diversification strategy in 2024, bolstered by accelerated growth in medical, industrial, and aerospace markets, with 51% of revenue coming from diversified sectors. A key highlight was the acquisition of SyQwest, LLC, enhancing CTS's capabilities in defense technologies, transitioning from component supplier to a provider of advanced sensors. This strategic move supports their goal of broadening product ranges and market opportunities post-integration. Furthermore, revenue metrics reflected an increase in adjusted gross margin by 243 basis points. In the medical sector, significant advancements were made in ultrasound technology aiding in therapeutic applications. While industrial sales saw a minor decline, there was recovery noted in distribution channels towards year-end. The report emphasizes CTS's commitment to cash generation with over $48 million returned to shareholders via dividends and repurchases in 2024, and details about the upcoming Annual Meeting on May 8, 2025, are also outlined, inviting shareholders to participate actively in the decision-making processes.

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Form Type: 10-K

Filing Date: 2025-02-26

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025027956

Filing Summary: The document outlines various financial activities and corporate structures related to CTS Corp, including updates on acquisitions. Key details highlight the acquisition of Syqwest LLC and Ferroperm Piezoceramics, alongside performance-based restricted stock units and the establishment of various financial controls related to asset management and revenue generation. The report emphasizes compliance with GAAP accounting standards, detailing revenues, expenses, and liabilities, along with future projections and commitments for the fiscal year ending December 31, 2025. The financial results indicate an overall positive outlook while managing post-retirement benefits, investments in technology-based intangible assets, and customer concentration risks. Geographic distribution of operations and products is also noted, emphasizing international exposure in regions like Taiwan, Denmark, and multiple others.

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