Vectron International, whose assets include a manufacturing facility in Mount Holly Springs, will be sold for $130 million in a deal announced Thursday.
Vectron’s parent company, the Knowles Corp., will sell Vectron to the Microsemi Corp. under an agreement that is expected to close in December, according to a release by Microsemi.
Microsemi had not responded as of press time to inquiries regarding any staffing or operational changes at Vectron’s Mount Holly Springs site.
Vectron is a major manufacturer of frequency control and sensor systems, according to its ownership. The company produces radio and electronic components used in precision communications and navigation devices.
"Microsemi is focused on building the industry's most comprehensive portfolio of high-value timing solutions," James J. Peterson, Microsemi's chairman and CEO, said in the release.
"Vectron's highly complementary technology suite expands our product offering with differentiated technology and allows Microsemi to sell more to its tier one customers in the aerospace and defense, communications and industrial markets while improving upon the operating performance of the combined model as we execute on significant synergy opportunities," Peterson said.
The Mount Holly Springs facility concentrates on building military and aerospace controls, according to Vectron’s website. The company’s headquarters is in New Hampshire, and it also owns two manufacturing facilities in Germany, as well as sales offices in China, Singapore and India.
Microsemi is headquartered in Aliso Viejo, California, and has approximately 4,800 employees worldwide, according to the release.
What is now the Vectron plant was originally built by McCoy Electronics in 1952, according to The Sentinel’s archives. The company was one of several local manufacturers who pioneered the development of piezoelectric technology, using quartz crystals to build radio controls that would lead to the rapid development of electronics after WWII.
McCoy Electronics eventually became part of Oak Industries, which was acquired by Corning in 2000. Corning sold the site to Vectron in 2004 due to a downturn in the telecommunications market, according to Sentinel reports at the time.