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FOR IMMEDIATE RELEASE Celestica to Advance High Growth , High - Margin Strategy with Acquisition of PCI Limited Acquisition Will Expand Capabilities in Key Markets and Strengthen Geographic Positioning Transaction is Expected to be Accretive to non - IFRS adjusted EPS * in the First Year ; Celestica Raises 2022 Outlook Investor Conference Call Scheduled Tomorrow at 8:00 a.m. ET TORONTO , Canada - Celestica Inc. ( TSX : CLS ) ( NYSE : CLS ) , a leader in design , manufacturing and supply chain solutions for the world's most innovative companies , today announced that it has entered into a definitive agreement to acquire PCI Limited ( “ PCI ” ) for $ 306 million in cash from Platinum Equity . Singapore - based PCI is a fully integrated design , engineering and manufacturing solutions provider with five manufacturing and design facilities across Asia . PCI is expected to generate approximately $ 325 million of annual revenue in 2021 with low double - digit adjusted EBITDA margins * and strong cash flows . The addition of PCI is expected to further strengthen Celestica's approach towards engineering - focused engagements , including full product development in the areas of telematics , human machine interface ( HMI ) , IoT and embedded systems . The transaction is expected to add over 20 complementary , blue - chip customers to Celestica's customer base , and lead to multiple synergies , including commercial cross - selling opportunities between both companies , the acceleration of engineering product offerings , and supply chain savings . Rob Mionis , President and CEO of Celestica , said , " We are pleased to join forces with PCI , an engineering led business that is aligned with our strategic objectives . This acquisition is intended to help us to further diversify our customer base and expand our ATS portfolio with high - growth programs . PCI is also expected to add strong annual revenue and cash flow generation that enhances our financial profile and outlook for 2022 and beyond . We believe that today , Celestica is as strong as it has ever been both operationally and financially and we are confident that PCI will help us build on our momentum and continue to generate significant value for all Celestica shareholders . " EL Teo , CEO of PCI , said , “ Celestica is an industry leader with complementary capabilities and a shared focus on engineering and innovation . We are excited to leverage Celestica's global footprint and significant resources to rapidly expand our business while bringing our new and differentiated engineering capabilities to their already impressive engineering team . Together , we intend to push the boundaries of innovation in our industry and deliver even stronger , more comprehensive solutions to our world class customers . " The $ 306 million transaction price represents an attractive adjusted EBITDA ** multiple of less than 7x ( pre - anticipated synergies ) , and the acquisition is expected to be accretive to non - IFRS adjusted EPS * in the first year , with returns anticipated to exceed Celestica's cost of capital by the second year , or sooner . As a result , Celestica is raising its outlook for 2022 non - IFRS adjusted EPS * growth compared to 2021 from 10 % or more to 20 % or more .