TKH divests remaining stake in Cable Connectivity Group

TKH and Torqx Capital Partners reach agreement with Infinite Electronics on the divestment of Cable Connectivity Group

TKH Group NV (“TKH”), has reached agreement on the sale of its minority 41.5% stake in the Cable Connectivity Group (“CCG” or “the Company”). CCG was created in August 2019, through the divestment of the majority of TKH’s industrial connectivity systems to Torqx. TKH initially bought back a 44% stake in CCG to take advantage of and support the further value creation potential at interesting investment terms.

The divestment is executed in the slipstream of the divestment of the stake in CCG, held by Torqx Capital Partners (“Torqx”) to Infinite Electronics, a US-based leading global supplier of electronic components. The transaction is subject to customary regulatory approval and is expected to close in Q1 2023 and will result in a one-off net profit contribution of approximately € 35 million for TKH.

Alexander van der Lof, CEO of technology company TKH, comments: “We are pleased that together with Torqx we have reached agreement with Infinite Electronics. The divestment of the remaining stake in CCG fits in our Accelerate 2025 strategy with a focused approach on realizing value creation. We firmly believe that Infinite Electronics is a natural next step for CCG’s continuity and future growth, offering a reliable environment for employees, suppliers, and customers.”

Penny Cotner, President and CEO of Infinite Electronics, comments: “We are very excited to welcome CCG and the team to Infinite Electronics and our portfolio of high-performing brands. CCG’s assembly, brand distribution and production capabilities are a perfect complement to our business model and provide us the unique opportunity to expand our operations in Europe and offer endless possibilities to grow together.”

Haaksbergen, November 8, 2022
Executive Board

The complete press release can be downloaded in PDF