Prairie Capital Advisors, Inc. ("Prairie") has announced Salt Lake City-based Cirris Systems Corporation ("Cirris" or the "Company") has been acquired by The Schleuniger Group ("Schleuniger"). Prairie acted as exclusive financial advisor in this transaction to Cirris and its shareholders and was led by Michael McGinley of Prairie. Terms of the transaction were not disclosed.
Founded with a single testing product in 1984, Cirris has grown to become a leader in the development and production of wire and harness test equipment, including testers, adapters, software, accessories and custom products. Headquartered in Salt Lake City, Utah, they serve customers in over 20 countries on all seven continents. As an ESOP (Employee Stock Ownership Plan) company, employees at Cirris share responsibilities and benefits, thereby increasing workplace efficiency and satisfaction. Every employee-owner at Cirris focuses on promoting quality products and providing a gratifying customer experience.
Founded in 1975 in Thun, Switzerland, Schleuniger is a globally-active technology company and a leading supplier to the wire processing and testing industry. With its wholly-owned and independently managed company, DiIT, Schleuniger is also a leading player in digitization and industrial IoT (Internet of Things). The company has development and production locations in Switzerland, Germany and China. With a network of sales and service companies in North America, Europe and Asia and more than 40 distribution partners worldwide, Schleuniger is always close to its customers. Schleuniger represents the wire processing business unit of the publicly-listed Metall Zug Group and has over 900 employees including 50 apprentices worldwide.