Kaye Scholer Advises Celestica in Asset Acquisition from Karel Manufacturing
Kaye Scholer advised Celestica Inc. in its purchase of the business assets of Lorenz Inc. and Suntek Manufacturing Technologies SA de CV, collectively known as Karel Manufacturing, a Mexico-based manufacturing services company. Celestica is a Canada-based global leader in the delivery of end-to-end product lifecycle solutions.
The Kaye Scholer team on this transaction included New York-based Corporate partner Bill Wallace and associate Meital Dror and DC-based Government Contracts partner Ronald Henry, counsel Bob Wagman and associates Sina Mansouri and Cara Spencer.
Below is the Celestica-issued press release:
Celestica Expands Capabilities for the Aerospace Market through Asset Purchase Agreement with Karel Manufacturing
Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced that it has completed a transaction to purchase the business assets of Lorenz, Inc. and Suntek Manufacturing Technologies, SA de CV, collectively known as Karel Manufacturing, a Mexico-based manufacturing services company.
As part of this transaction, Celestica has acquired Karel’s manufacturing assets in both Mexicali, Mexico and Calexico, California. Through this agreement, Celestica will gain additional vertical build-to-print capabilities in the areas of complex wire harness assembly, systems integration, sheet metal fabrication, welding and machining. The operation is Nadcap-certified with focused expertise serving Aerospace and Defense customers. Approximately 400 Karel employees will be joining Celestica from across the two operations.
“This acquisition supports our strategy to accelerate our growth in key markets through the addition of value-added capabilities and services,” said Jack Lawless, Executive Vice President, Diversified Markets, Celestica. “This further enables us to reduce supply chain complexity and cost for our customers across a broad range of markets, including Aerospace & Defense, Semiconductor Capital Equipment, Industrial, Healthcare, Renewable Energy, Communications and Enterprise.”
Celestica is dedicated to delivering end-to-end product lifecycle solutions to drive our customers’ success. Through our simplified global operations network and information technology platform, we are solid partners who deliver informed, flexible solutions that enable our customers to succeed in the markets they serve. Committed to providing a truly differentiated customer experience, our agile and adaptive employees share a proud history of demonstrated expertise and creativity that provides our customers with the ability to overcome complex challenges.
For further information on Celestica, visit its website at http://www.celestica.com.
The company’s securities filings can also be accessed at http://www.sedar.com and http://www.sec.gov.
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