M&A
confidence high
sentiment positive
materiality 0.80
TTM closes $1.1B Epiq Solutions buy, funded by $300M/$800M term loans and 6.750% notes
TTM TECHNOLOGIES INC
- TTM paid ~$1.1B cash for EPIQ Design Solutions LLC (Epiq), now a wholly-owned subsidiary; seller was EDS TopCo, LP and EDS Intermediate Holding, LLC.
- Funded by $300M incremental Term A loan and $800M seven-year Term B loan under a Third Amended Credit Agreement with JPMorgan Chase as agent, plus 6.750% senior notes due 2034.
- Epiq adds AI-enabled software-defined radios, high-performance RF products and radiation-tolerant space compute for SIGINT/electronic warfare missions.
- Deal expected immediately accretive to adjusted EBITDA, moderately dilutive to non-GAAP diluted EPS in 2027 and accretive in 2028, per the closing press release.
- Guggenheim Securities served as exclusive financial advisor and Polsinelli PC as exclusive legal adviser; Securities Purchase Agreement signed August 15, 2026.