TTM Technologies Acquires Epiq for $1.1 Billion

TTM Technologies is set to acquire EPIQ Design Solutions in a significant transaction valued at $1.1 billion. This move marks the exit of private equity firm Veritas Capital from its four-year investment in the specialized defense radio manufacturer. The deal, anticipated to finalize by year-end 2026 pending regulatory approvals, underscores the robust appetite for advanced technology providers within the aerospace and defense sector.

Veritas Capital, operating through its Vantage strategy, initially invested in EPIQ Design Solutions in 2022. During its stewardship, Veritas focused on enhancing Epiq's organic product development while strategically integrating two key acquisitions: Xiphos Systems and Cyber Radio Solutions. These additions bolstered Epiq's capabilities in space-based computing and high-performance radio-frequency technology, significantly broadening its market reach and enabling support for more sophisticated defense missions across air, land, sea, and space domains.

The acquisition by TTM Technologies, a prominent global manufacturer of technology products listed on Nasdaq, is expected to create a formidable entity in the defense electronics market. Epiq's expertise in open-architecture, software-defined radios and embedded computing systems, designed for rapid deployment and energy efficiency, complements TTM's existing product portfolio. This synergy is poised to drive innovation and expand offerings for commercial, government, and defense clients.

Jeffrey Wu, a Partner at Veritas Capital's Vantage team, highlighted the firm's commitment to value creation in mission-critical aerospace and defense businesses. He commended Epiq's management for successfully executing a strategic growth plan and maintaining a high standard of customer solutions and operational excellence. This successful exit demonstrates Veritas Capital's proficiency in identifying and nurturing companies within this specialized and high-growth sector.

John Orlando, CEO of EPIQ Design Solutions, expressed enthusiasm for the transition to TTM Technologies. He noted the pivotal role Veritas Capital played in leveraging its deep industry expertise and network to evolve Epiq's platform. The company now looks forward to its next growth phase under TTM's ownership, aiming to further address critical demands in defense environments.

The defense technology sector continues to attract substantial private investment, driven by escalating global priorities in electronic warfare, unmanned systems, and space-based capabilities. Companies possessing proven, fielded products, like Epiq, are increasingly becoming prime targets for both strategic acquirers and financial sponsors seeking to capitalize on these trends. The $1.1 billion valuation reflects the strategic importance and technological advancement of Epiq's offerings in a market characterized by rapid innovation and significant government spending.