|[February 24, 2014]
Boyd Corporation Acquires Brady Die-Cut Business in Industry-Shaping Deal
MODESTO, Calif. --(Business Wire)--
Corporation, a leading global provider of precision engineered
components, today announced it has entered into an agreement to purchase
the Asian and European Die-Cut businesses of Brady Corporation
The acquisition significantly increases the size of Boyd's business
globally and naturally complements Boyd's current product portfolio. The
combined businesses create a level of global seamlessness that provides
original equipment manufacturers (OEM) and Electronics Manufacturing
Services providers (EMS) with greater access to materials, more
proximate design services, manufacturing across continents and enhanced
supply chain effectiveness.
The Asian operations primarily manufacture high-performance products
such as gaskets, meshes, heat dissipation materials, antennae, dampers,
filters, and similar products sold into the mobile computing and
electronics industries. The European operations primarily manufacture
precision components and thermal management products used in the
medical, automotive electronics and telecommunications industries.
Boyd's existing product portfolio includes environmental seals and
gaskets and energy management components, including EMI shielding,
acoustic and thermal insulation, cushioning and shock aborption,
thermal management, and bonding systems. Importantly, the acquisition
brings a broader array of precision manufacturing, product design and
engineering capabilities, further enhancing Boyd's delivery of
performance-critical energy management components.
"This transaction is a great opportunity to join together two businesses
with complementary strengths that, combined, will build a level of
integrated global capabilities that will benefit our customers,
suppliers and employees," said Mitch Aiello, Boyd Corporation President
and CEO. "We pursued this business with purpose and with our customers
in mind. It is core to Boyd's strategy, further entrenches us in
high-growth markets and expands our global footprint in critical
locations around the world. We are thrilled to have this business and
its talented people as part of the Boyd team."
Through the transaction, Boyd will expand its presence in key markets,
diversify its customer base and establish global manufacturing
capabilities. This includes acquiring premier OEM brands as customers
and extending the company's reach and portfolio diversity in
electronics. Boyd will add facilities across Asia and Europe, which will
allow the company to optimize logistics and source the best materials
from around the world. In addition to Boyd's existing manufacturing and
design hubs around the United States, facilities will be located in
Shenzhen, China; Langfang, China; Wuxi, China; Syke, Germany; Gumi,
Korea; Nodinge, Sweden; Chon Buri, Thailand; and, Taipei, Taiwan.
The sale is subject to various customary closing conditions, including
approval under Korean antitrust laws and receipt of certain other
governmental and third party consents. The transaction is expected to
close in two phases, with the first closing expected to occur within
approximately 90 days of its signing, and the second closing expected to
occur mid year.
Upon completion of the transaction, the newly acquired business will
operate under the Boyd brand - a name that carries almost 100 years of
tradition and vision.
About Boyd Corporation
Boyd Corporation is a global provider of precision-engineered
products with specific expertise in engineering and design,
manufacturing and supply chain management. The company operates
in markets around the world and serves customers in electronics, mobile
computing, medical technology, transportation, aerospace and other B2B
and consumer-critical industries. For nearly 100 years, the Boyd brand
has represented stability, adaptability and vision along with employing
the most experienced team in the industry. Boyd Corporation: One
Company, Many Solutions. Visit us at www.boydcorp.com.
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