Simpson Thacher is representing MTS Systems Corporation (NASDAQ: MTSC) (“MTS”) in connection with its acquisition of PCB Group, Inc. (“PCB”), for approximately $580 million in cash. The transaction, which is subject to customary closing conditions, is expected to close in the second quarter of 2016.
Based in Eden Prairie, MN, MTS provides testing hardware, software and services solutions that help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS sensors provide controls for a variety of industrial and vehicular applications.
Based in Depew, NY, PCB manufactures sensors and electronics for the measurement of dynamic pressure, force, and vibration that enhance the productivity, safety, reliability and efficiency of their customers’ products and processes.
The Simpson Thacher team includes Patrick Naughton, Wenli Cai and Nicole Annunziato (M&A); James Cross and Benjamin Baucom (Credit); Brian Robbins, Paul Koppel, Alina Grinman and Samantha Steinfeld (ECEB); John Creed, Jordan Tamchin and George Davis (Tax); Michael Isby and Timothy Mulvihill (Environmental); Krista Miniutti, Erik Quarfordt and Kathryn Christoforatos (Real Estate); and Peter Guryan and Michael Naughton (Regulatory).