CTS closes $50M Millar Holdings deal

CTS Corporation has completed its acquisition of Millar Holdings, Inc. for $50 million, net of cash acquired and debt assumed. The agreement also includes additional contingent consideration linked to specified financial performance targets, which could increase the total amount ultimately paid. The transaction strengthens CTS’s advanced sensing portfolio and broadens its exposure to medical technology and life sciences applications.

The acquisition brings together CTS’s global manufacturing capabilities and Millar’s specialized pressure sensing technology. CTS expects the combination to support product innovation, expand customer relationships, and enhance its position in advanced sensing markets. No changes to Millar’s management, facilities, or workforce were announced at closing.

CTS President and Chief Executive Officer Pratik Trivedi described Millar as a highly strategic addition to the company’s portfolio. He said the acquisition expands CTS’s presence in medical sensing while adding differentiated technology, talented employees, and strong customer relationships. Trivedi stated that the combination is expected to strengthen CTS’s ability to deliver innovative sensing solutions to customers worldwide and support long-term value for shareholders.

Millar Chief Executive Officer Tim Daugherty said joining CTS marks an important new chapter for Millar after more than 55 years in the sensor technology sector. He highlighted Millar’s focus on pushing the boundaries of pressure sensor technology and said CTS’s global reach, complementary technologies, and engineering expertise position the combined business to accelerate innovation and expand capabilities. Daugherty also pointed to opportunities to create additional value for customers and markets served by Millar’s products.

Millar specializes in the design, development, and manufacturing of advanced pressure sensing technologies. Its products are used in medical devices, life sciences, and industrial applications that require precise pressure measurements. The acquisition adds Millar’s engineering expertise and established customer relationships to CTS’s existing portfolio of sensing solutions.

By integrating Millar’s pressure sensing technologies, CTS broadens its offering in applications where measurement accuracy, reliability, and performance are critical. The transaction is aligned with CTS’s strategy of expanding into diversified end markets and increasing its presence in healthcare and life sciences alongside its existing industrial and transportation businesses.

CTS is a Lisle, Illinois-based manufacturer of sensors, connectivity components, and actuators for aerospace and defense, industrial, medical, and transportation markets. The company reported approximately $564 million in sales for the twelve months ended June 30, 2026. Its products support electronic and mechanical systems across multiple industries that require specialized sensing and motion components.

The completed acquisition of Millar adds to CTS’s medical sensing capabilities while complementing its current sensor product lines. CTS did not disclose Millar’s revenue, profitability, or employee count, and it did not specify the financial performance targets or maximum potential amount related to the contingent consideration. The closing underscores CTS’s ongoing focus on specialized sensing technologies as a driver of growth in diversified markets.