CTS closes $50M Millar deal to push deeper into medical sensing
What's the deal? CTS CorporationDealroom has a profile for this one. Try Dealroom → has completed its $50 million acquisition of Millar Holdings, net of cash acquired and debt assumed, with additional payments tied to performance targets. Millar designs and makes advanced pressure-sensing technologies for medical devices, life sciences, and industrial uses. Its subsidiary SentronDealroom has a profile for this one. Try Dealroom →, based in Leek, Netherlands, adds electrochemical sensing to the portfolio.
What's the endgame? The deal strengthens CTS's position in advanced sensing and expands its presence in diversified end markets, moving the company further from its transportation roots. CTS makes sensors, connectivity components, and actuators for aerospace and defence, industrial, medical, and transportation customers.
Why now? CTS is pressing a diversification push that is already reshaping its revenue mix. In the second quarter of 2026, diversified end markets grew 15% year over year and made up 59% of sales, while transportation sales fell 2%. The company also reported record adjusted margins and raised its full-year outlook.
What's next? "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," said Pratik Trivedi, CTS president and chief executive officer.
The signal: The purchase is strategically relevant but modest against CTS's roughly $564 million in trailing-12-month sales. Its payoff depends on Millar's growth and its contribution to the medical business — the end market CTS is betting on as transportation demand softens.
Read more: AP News
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