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Bel Fuse (BELFA) to Acquire TE Connectivity's (TEL) Transpower Magnetics Unit in $22.4M Deal

November 29, 2012 7:07 AM EST
Bel Fuse, Inc. (NASDAQ: BELFA) has signed a definitive agreement to acquire the Transpower magnetics business of TE Connectivity (NYSE: TEL).

Bel will pay approximately $22.4 million in cash to acquire the business, which had trailing twelve month revenue of approximately $75 million. The acquisition is expected to be immediately accretive to Bel's earnings. The transaction is expected to be completed in the first quarter of 2013.

Houlihan Lokey and Stephens Inc. acted as financial advisors to Bel in this transaction.


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