TI Fluid Systems plc (LSE:TIFS) agreed to acquire Cascade Engineering Europe Termelo, Kereskedelmi Es Szolgaltato Korlatolt Felelossegu Tars for $27.7 million on September 5, 2023. TIFS will acquire CEE for a cash consideration of $27.7 million or about 6x estimated 2023 EBITDA excluding synergies. TIFS will welcome CEE's 349 dedicated employees and acquire the 6,500m2 manufacturing facility in Budapest, Hungary. The acquisition is subject to customary closing conditions and regulatory approval. The acquisition will be immediately accretive to the group's underlying earnings. As of November 2, 2023, the transaction is expected to close in Q4.

TI Fluid Systems plc (LSE:TIFS) completed the acquisition of Cascade Engineering Europe Termelo, Kereskedelmi Es Szolgaltato Korlatolt Felelossegu Tars on November 6, 2023. Angle Advisors, LLC acted as a financial advisor to Cascade Engineering Europe.