Micro-Mode Products, Inc. (Micro-Mode) has been acquired by ITT, Inc. for approximately $80 million. Micro-Mode is a specialty designer and manufacturer of high-bandwidth Radio Frequency (RF) connectors for harsh environment defense and space applications.
Micro-Mode, a leading provider of RF and Hermetic connectors for radar, satellite and smart defense systems, has been qualified on numerous U.S. space and defense programs for more than 30 years. Micro-Mode’s differentiated miniature and high-frequency design capabilities will enhance ITT’s product portfolio and customer base, specifically for long-term defense programs. Micro-Mode holds leading positions in the defense and space connector industries and its high-reliability connectors are the product of choice for many mission-critical applications.
The acquisition of Micro-Mode grows ITT’s existing North America connectors platform, which is part of its Connect & Control Technologies (CCT) segment. Micro-Mode also provides ITT further access to attractive segments and applications in space and defense, with a total addressable market of more than $4 billion. With its proven engineering and quality capabilities, the company maintains a highly defensible niche with sole source positions on attractive U.S. defense programs.
“Micro-Mode has a proven business model that delivers value to customers in very demanding applications,” said ITT’s Chief Executive Officer and President Luca Savi. “The company’s expertise is a great addition to our connectors business and strengthens our presence in defense systems, military aircraft and space applications. Micro-Mode customer sentiment is overwhelmingly positive, and we are excited to have the Micro-Mode team join ITT.”
Micro-Mode employs approximately 170 highly skilled professionals at a single manufacturing site near San Diego, California. It generated approximately $26 million in sales during 2022.
Philpott Ball & Werner LLC served as exclusive financial advisor to Micro-Mode.