In line with its gameplan to reposition its businesses into areas of high growth, the UK-based Laird Group has sold its US-based Laird Plastics division and acquired Centurion Wireless in two separate multimillion dollar deals.
The Laird Plastics division, which is based in West Palm Beach, FL, has been sold to an affiliate of Blackfriars Corporation, a privately held US-based company, for a £35.7 million. While Lincoln, NB-based Centurion Wireless, a designer and manufacturer of antennas and battery packs has been acquired for £106.8 million.
This year, the Laird Group has embarked on a series of acquisitions. In July, the company bought the UK-based Lindman Group, a supplier of composite entrance doors for the social housing market, for £3.2 million.
And earlier, in April, it paid £15.5 million for US-based Thermagon, a manufacturer of thermally conductive products used in the electronics industries to remove heat from components such as microprocessors, power transistors and other integrated circuits.
The company expects to complete the sale of the Laird Plastics division and the acquisition of Centurion Wireless by December this year.