M&A
confidence high
sentiment positive
materiality 0.90
TTM Technologies to acquire Epiq Solutions for $1.1B cash, accretive to 2028 EPS
TTM TECHNOLOGIES INC
- $1.1B all-cash purchase of Epiq Solutions, AI-enabled SDR/RF provider for defense; board unanimously approved.
- Financing: $300M Term A + $800M Term B facilities from JPMorgan, Barclays, Bank of America.
- Expected close by Nov 15, 2026 (extendable to May 15, 2027); HSR waiting period condition.
- Synergy-adjusted multiple 17.4x expected 2027 Adjusted EBITDA; $9M run-rate synergies assumed.
- Immediately accretive to Adjusted EBITDA margin; accretive to Non-GAAP diluted EPS in 2028; net leverage 2.3x at close.