TTM Technologies Closes $1.1B Acquisition of Epiq Solutions and Secures $1.1B Credit Facilities

Executive Summary

On September 30, 2026, TTM Technologies, Inc. (NASDAQ: TTMI) filed a Current Report on Form 8-K announcing the closing of its previously announced acquisition of Epiq Solutions (EDS Intermediate Holding, LLC) alongside the execution of a Third Amended and Restated Credit Agreement providing $1.1 billion in incremental credit facilities.

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Key Transaction Highlights

1. Completion of Epiq Solutions Acquisition (Item 8.01):

   • Target: EDS Intermediate Holding, LLC ("Epiq Solutions"), acquired from EDS TopCo, LP.
   • Consideration: Approximately $1.1 billion in cash, subject to customary post-closing working capital and transaction expense adjustments.
   • Structure: Epiq Solutions became a direct, wholly-owned subsidiary of TTM Technologies.
   • Strategic Context: Epiq Solutions provides software-defined radio (SDR) and RF solutions, enhancing TTM's capabilities in aerospace, defense, and specialized communications.

2. Third Amended and Restated Credit Agreement (Item 1.01 & Item 2.03):

   • Administrative Agent: JPMorgan Chase Bank, N.A.
   • Incremental Facilities Funded:
     • Term A Incremental Facility: $300 million aggregate principal amount.
     • Term B Incremental Facility: $800 million aggregate principal amount (7-year maturity).
   • Guarantees and Collateral: Unconditionally guaranteed by domestic subsidiaries (including Epiq Solutions) and secured by a first-priority lien on substantially all domestic tangible and intangible assets.
   • Funding Use: Proceeds were deployed to fund the $1.1 billion purchase price and related transaction fees and expenses, along with proceeds from the previously completed offering of 6.750% Senior Notes due 2034.

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Market and Financial Impact

• Leverage Profile: The transaction increases TTM's funded debt by $1.1 billion under senior secured credit facilities, layered alongside its recently issued 6.750% Senior Notes due 2034.
• Operational Scale: The integration of Epiq Solutions expands TTM's margins and exposure to higher-value defense electronics and radio frequency systems.
• Near-Term Catalyst: Investors should monitor subsequent quarterly reports for pro-forma earnings integration, post-closing adjustments, and execution on debt deleveraging targets.