Keywords
Citation
(2001), "Plexus acquires e2E", Circuit World, Vol. 27 No. 3. https://doi.org/10.1108/cw.2001.21727cab.006
Publisher
:Emerald Group Publishing Limited
Copyright © 2001, MCB UP Limited
Plexus acquires e2E
Plexus acquires e2E
Keywords: Plexus, e2E, Acquisition
Plexus, the US printed circuit board maker, has provided another boost to the battered electronics industry in the Scottish Borders by snapping up e2E, a printed circuit board design firm with European and UK headquarters in Newtown St Boswells.
The $23.9m deal follows Plexus's purchase last year of Borders PCB maker Keltek. With over $20m in sales last year, e2E is an international player in PCB design and will provide Plexus with an immediate presence in key European markets.
Plexus is issuing $20.8m worth of its shares to e2E's shareholders and taking on $3.1m of the latter's debt.
"The timing of the deal is good", said e2E managing director Derek Laidlaw. "We were looking to be merged into someone else or to go onto the Nasdaq stock exchange. We realised what a good fit the companies were. Working with Plexus we can offer our customers a finished product."
The Scottish Borders were hit previously by high-profile closures including the controversial axing of factories operated by US electronics giant ViaSystems. Plexus is one of the world's major PCB makers and also provides back-up services.
Source: Scotland on Sunday