Key Tronic Corp. (Nasdaq: KTCC) has closed a deal for CDR Manufacturing Inc. for about $47 million.
CDR, a Somerset, Kentucky-based business that operates as Ayrshire Electronics, provides printed circuit board assembly and other services through manufacturing facilities in Minnesota, Arkansas, Mississippi, Kentucky and Mexico.
Spokane Valley, Washington-based Key Tronic manufactures products for original equipment manufacturers.
Other manufacturing deals include Primoris Services Corp.'s (Nasdaq: PRIM) acquisition of Ram-Fab LLC, which makes piping systems, and 3i Group plc's investment in A&A Manufacturing, a safety equipment manufacturer.
Dealmakers polled in Mergers & Acquisitions Mid-Market Pulse expected to see a surge of manufacturing M&A. Manufacturing expanded in August at the fastest pace in three years as orders grew by the most in a decade, as indicated by Institute for Supply Management’s index unexpectedly climbing to 59, the highest level since March 2011.