Sensata Acquires First Technology Automotive and Special ProductsDecember 22, 2006
The acquisition of Honeywell's business adds design, development, and manufacturing assets for high-value automotive sensor and electromechanical control solutions.
ATTLEBORO, MA /PRNewswire/ -- Sensata Technologies B.V. announced that it has closed the previously announced acquisition of Honeywell's First Technology Automotive and Special Products (FTAS) business.
Concurrently, Sensata completed a 73 million euros financing in support of the transaction through an incremental facility under its existing credit agreement. Terms were in line with the original issuance.
FTAS designs, develops, and manufactures high-value automotive sensor and electromechanical control solutions. Its products are sold to automotive OEMs, Tier I automotive suppliers, large-vehicle and off-road OEMs, and industrial manufacturers. For the year ending December 31, 2005, FTAS had sales of approximately $69 million.
Formerly the Sensors & Controls business of Texas Instruments, Sensata Technologies was acquired by Bain Capital, LLC, a leading global private investment firm, in April, 2006. Sensata is a leading designer and manufacturer of sensors and controls for global leaders in the automotive, appliance, aircraft, industrial, and HVAC markets. It has nine technology and manufacturing centers in eight countries, and sales offices throughout the world. Revenues for 2005 were approximately $1.1 billion.
About Sensata Technologies
Sensata Technologies is a leading designer and manufacturer of sensors and controls for leaders in the global automotive, appliance, aircraft, industrial, and HVAC markets. Sensata has business and technology development centers in Attleboro, MA, Holland, and Japan and manufacturing operations in Brazil, China, Korea, Malaysia, and Mexico, as well as sales offices around the world. Sensata Technologies employs approximately 5500 people worldwide. For more information, please visit our Web site.
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