LISLE, Ill., October 23, 2026 – CTS Corporation(NYSE: CTS) announced that it has completed the acquisition of Millar Holdings, Inc. (“Millar”) for $50 million, net of cash acquired and debt assumed, with additional contingent consideration payable subject to the achievement of specified financial performance targets. Millar specializes in the design, development, and manufacturing of advanced pressure sensing technologies for medical devices, life sciences, and industrial applications.The acquisition strengthens CTS’s position in advanced sensing technologies and expands its presence in diversified end markets.
“We are excited to welcome the Millar team to CTS,” said Pratik Trivedi, President and Chief Executive Officer of CTS Corporation.“Millar represents a highly strategic addition to our portfolio, expanding our presence in medical sensing while adding differentiated technology, talented employees, and strong customer relationships. We believe the combination will enhance our ability to deliver innovative sensing solutions to customers worldwide and create long-term value for our shareholders.”
Tim Daugherty, Chief Executive Officer of Millar, added,“Joining CTS marks an exciting new chapter for Millar and an incredible opportunity to build on everything our team has accomplished over the past 55-plus years. We've always been passionate about pushing the boundaries of sensor technology and helping our customers bring innovative solutions to life. With CTS's global reach, complementary technologies, and engineering expertise,we're positioned to accelerate innovation, expand our capabilities, and create even greater value for the customers and markets we serve.”
Raymond James served as exclusive financial advisor to Millar in connection with the transaction.
About CTS Corporation
CTS is a leading designer and manufacturer of products that Sense, Connect, and Move. The Company manufactures sensors, connectivity components, and actuators for applications in the aerospace and defense, industrial, medical, and transportation markets. CTS reported sales of approximately $564 million for the twelve months ended June 30, 2026. More information is available at www.ctscorp.com.
About Millar
Founded in 1969, Millar is a global leader in precision sensor technology and sensor-enabled solutions. Headquartered in Pearland, Texas, Millar specializes in the design, development, and manufacturing of advanced pressure sensing technologies for medical devices, life sciences, and industrial applications. Through its Sentron operations in the Netherlands, Millar's capabilities also include semiconductor microfabrication, ISFET pH, electrical conductivity, and additional sensor technologies.
With more than five decades of engineering expertise and vertically integrated manufacturing capabilities, Millar partners with customers to develop innovative sensing solutions that advance medical technology, scientific discovery, and industrial innovation.
Investor Contact: Ashish Agrawal
Vice President and Chief Financial Officer
CTS Corporation 4925 Indiana Avenue
Lisle, IL 60532 USA +1 (630) 577-8800
Forward-Looking Statements
This press release contains forward-looking statements regarding anticipated benefits of the acquisition, future growth opportunities, and expected business performance. Actual results may differ materially from those expressed or implied by such statements due to various risks and uncertainties. CTS undertakes no obligation to update any forward-looking statements except as required by law.
