Control Products Incorporated Announces Acquisition by discoverIE Group
East Hanover, NJ - July 6th 2021
Control Products Inc. (CPI) a leading manufacturer of waterproof switches and sensors for extreme operational environments, announces its acquisition by discoverIE, an international group of businesses that designs, manufactures and supplies highly differentiated, innovative components for electronics applications and OEM’s around the globe.
For over 70 years, CPI has designed, developed, and manufactured advanced electromechanical limit switches for both extreme duty applications and waterproof markets, as well as a full line of ultra-durable standalone thermal switches used in both military and commercial equipment. In 2000, CPI began development of an advanced, long-stroke, sub-sea capable linear position sensor for large hydraulic cylinders and accumulators which has rapidly become a go-to solution for oil & gas, and other deep-sea applications.
“discoverIE is really a perfect fit for us,” notes Mac Stuhler, General Manager of CPI. “They have a long history managing companies making the kind of innovative and unique electronic components that we do. We expect this partnership to create new markets and applications for our components, as well as much more effective European and Asia distribution.”
CPI’s core management team will remain in place, and existing commitments are unaffected by the acquisition. CPI’s strategy will continue to be focused on niche applications, where their capabilities bring maximum impact to component specification challenges. The objective of the company remains the same: to provide the highest level of service and quality in their chosen markets.
About discoverIE
discoverIE is based in Great Britain and has a portfolio of companies throughout Europe, as well as Asia and North America
The Group employs c.4,400 people and focuses on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical, industrial, and connectivity.
The discoverIE Group is listed on the main market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of over £450m. Over the last five years, revenue and underlying earnings per share have both more than doubled.
Contact Information
For additional information please contact as follows:
Control Products Inc. 280 Ridgedale Avenue
Originally posted: https://www.cpi-nj.com/control-products-incorporated-announces-acquisition-by-discoverie-group/ | discoverIE Group plc 2 Chancellor Court |
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