Knowles completed the acquisition of Cornell Dubilier

13 June, 2024

Knowles provides micro-acoustic microphones, audio solutions, and high performance capacitors and RF products. The acquisition is a part of a new Knowles' strategic plan to accelerate its growth

Knowles Corporation announced it has successfully completed the acquisition of Cornell Dubilier. The $263 million all-cash transaction was announced on September 2023. Cornell Dubilier, based in Liberty, South Carolina, is a technology leader and manufacturer of high-quality film, electrolytic and mica capacitors used in demanding medtech, military, aerospace, and industrial electrification applications. The acquisition is a part of a new Knowles’ strategic plan to accelerate its transformation to an industrial technology company focused on higher growth and value opportunities.

The Company also announced that it is reviewing strategic alternatives for its Consumer MEMS Microphones (CMM) business. CMM designs and manufactures micro-electro-mechanical systems microphones that enable voice control communication and superior audio recording for customers across the ear, compute, internet of things and smartphone market segments. Knowles provides micro-acoustic microphones, audio solutions, and high performance capacitors and RF products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets.

“Knowles shares our culture of innovation,” said Cornell Dubilier Chief Executive Officer Jim Kaplan. “Like Knowles, some of the world’s most respected companies rely on our technologies. Together, we will offer cutting-edge products and solutions to our customers.” Knowles sales in 2023 totalled $707 million. Revenues of Q4 2023 were up 9% and reached $215 million. Jeffrey Niew, president and CEO of Knowles: “As we look to the first quarter of 2024, we expect to see strong year over year organic growth despite excess channel inventory in some of our end markets. The Cornell Dubilier acquisition is anticipated to further add to growth and profitability. In total, revenue is expected to be up 35% from first quarter 2023 levels.”

Elina's booth during a Technology Exhibition in Tel aviv
Elina’s booth during a Technology Exhibition in Tel aviv

             

 

Knowles is represented and supported in Israel by Elina Electronic Engineering Group.

For more information, contact: mulu@elina.co.il,  +972-54-2509599

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Posted in: Deals and Investments , Electronics Industry , News

Posted in tags: Elina , Knowles