Livingstone advises on Major Acquisition from TE Connectivity
Livingstone has advised KGP Logistics on the acquisition of certain assets of the professional services business of TE Connectivity Ltd. The purchase establishes KGP as a market leading provider of engineering, procurement, installation and other outsourced services to the US communications industry.
The acquired activities will operate through KGP affiliate BlueStream Professional Services LLC, and will service customers from 15 regional offices across the States, and a national network of seven distribution and eight integration centres. TE’s professional services business generated sales of £75m ($121m) in FY11.
“We are encouraged by what this acquisition means for our customers, OEM partners, and employees,” commented Trevor Putrah, KGP President. “Working in concert with KGP’s core distribution and logistics capabilities, BlueStream will transform how telecom, enterprise, and wireless businesses go-to-market.”
KGP has become one of the country’s largest single-source, value added suppliers of logistics and supply chain services, wireless, and wireline communications equipment. With a diverse and valued customer base, a comprehensive US logistics network, and a portfolio of OEM partnerships that is second to none, the group provides a uniquely comprehensive range of products and services to the communications market.
Formerly known as Tyco Electronics, TE Connectivity is a $12bn revenue group listed on the New York Stock Exchange that designs and manufactures over 500,000 products that connect and protect the flow of power and data inside products across virtually every industry—from consumer electronics, energy and healthcare, to automotive, aerospace and communication networks.
Graham Carberry, the Director at Livingstone, concluded: “This is the third deal that we have closed with a major player in the Electronics sector in the last three months, having also concluded the sales of Cableform to Hubbell, Inc and Applied Kilovolts to ITT Exelis.”