CTS Corporation Announces Completion of the Acquisition of Millar Holdings
Key Highlights
- ➤CTS (CTS) completes Millar acquisition for $50 million, net of cash acquired and debt assumed
- ➤Additional contingent consideration depends on specified financial performance targets
- ➤Millar expands CTS’s medical sensing presence with advanced pressure-sensing technologies
- ➤CTS reported approximately $564 million in sales for twelve months ended June 30, 2026
Expert Statements
Pratik Trivedi, President and Chief Executive Officer of CTS Corporation
“We are excited to welcome the Millar team to CTS”
Pratik Trivedi, President and Chief Executive Officer of CTS Corporation
“Millar represents a highly strategic addition to our portfolio, expanding our presence in medical sensing while adding differentiated technology, talented employees, and strong customer relationships.”
Pratik Trivedi, President and Chief Executive Officer of CTS Corporation
“We believe the combination will enhance our ability to deliver innovative sensing solutions to customers worldwide and create long-term value for our shareholders.”
Tim Daugherty, Chief Executive Officer of Millar
“Joining CTS marks an exciting new chapter for Millar and an incredible opportunity to build on everything our team has accomplished over the past 55-plus years.”
Tim Daugherty, Chief Executive Officer of Millar
“We've always been passionate about pushing the boundaries of sensor technology and helping our customers bring innovative solutions to life.”
Tim Daugherty, Chief Executive Officer of Millar
“With CTS's global reach, complementary technologies, and engineering expertise, we're positioned to accelerate innovation, expand our capabilities, and create even greater value for the customers and markets we serve.”
LISLE, Ill., Oct. 23, 2026 (GLOBE NEWSWIRE) -- CTS Corporation (NYSE: CTS) today announced that it has completed the acquisition of Millar Holdings, Inc. (“Millar”) for $50 million, net of cash acquired and debt assumed, with additional contingent consideration payable subject to the achievement of specified financial performance targets. Millar specializes in the design, development, and manufacturing of advanced pressure sensing technologies for medical devices, life sciences, and industrial applications. The acquisition strengthens CTS’s position in advanced sensing technologies and expands its presence in diversified end markets.
“We are excited to welcome the Millar team to CTS,” said Pratik Trivedi, President and Chief Executive Officer of CTS Corporation. “Millar represents a highly strategic addition to our portfolio, expanding our presence in medical sensing while adding differentiated technology, talented employees, and strong customer relationships. We believe the combination will enhance our ability to deliver innovative sensing solutions to customers worldwide and create long-term value for our shareholders.”
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