Precision has around 160 employees that support customers in medical, industrial, and aerospace and defence markets.
Precision brings new design, simulation and manufacturing capabilities to TT in electromagnetics.
Precision’s products are primarily sold into medical applications including pace makers, neurological implants and other in-body equipment as well as external diagnostic equipment such as dialysis machines and MRI scanners.
Precision also serves industrial and aerospace and defence customers in applications including satellite power supplies and aerospace guidance systems.
Precision’s capabilities include high-reliability, ultra-fine wire winding, particularly suited to components that require exceptionally high levels of precision. Precision will be integrated into the Power Electronics division.
TT will provide Precision with customer and market access in Europe and Asia, supported by a global Field Application Engineering team and distribution network. TT’s operating footprint will provide significant manufacturing and supply chain capabilities in Asia to support customers in region.
Together with Precision, TT now has a global electromagnetic product solution offering with engineering capabilities in the US, UK and Asia supported by manufacturing capabilities in each region.
Commenting on the acquisition, Richard Tyson, CEO says the acquisition “will extend our capability for power electronic solutions in the important medical, industrial and aerospace and defence markets in the US.”