PLEXUS CORP acquired Turnkey electronic contract manufacturing operations of Elamex, S.A. de C.V. for US $53.7 million (cash), subject to net-book-value adjustment, a transaction completed in May 2000, structured as all cash. The deal was a Asset/stock purchase (carve-out).
Turnkey electronic contract manufacturing operations of Elamex, S.A. de C.V. operates in Turnkey electronic contract manufacturing, is based in Juarez, Mexico. The turnkey electronic contract manufacturing operations of Elamex, S.A. de C.V. in Juarez, Mexico. Elamex formed two corporations to which it transferred specified assets, operations and liabilities of its turnkey electronic contract manufacturing operations, and Plexus purchased the stock of those acquired companies. The purchase was financed from working capital and Plexus's pre-existing bank lending facility.
Established a Mexican manufacturing presence with turnkey electronic contract manufacturing operations in Juarez.
Established a sizable low-cost Mexican manufacturing footprint via a turnkey EMS carve-out. ~250,000 sq ft and ~1,394 employees in Juarez, Mexico at acquisition date; accounted for using the purchase method
On May 23, 2000, Plexus Corp. completed its previously announced acquisition of the turnkey electronic contract manufacturing operations of Elamex, S.A. de C.V. ... Plexus then purchased the stock of the Acquired Companies for US $53.7 million, subject to adjustment upon the final determination of the net book value of the Acquired Companies. The purchase price was paid in cash.Plexus Corp Form 8-K (period of report May 23, 2000), Item 2
Advisory firms were not disclosed for this transaction.