Littelfuse to Acquire Basler Electric to Expand Industrial Market
Chicago-based Littelfuse, Inc., a publicly held leader in smart solutions that enable safe and efficient electrical energy transfer, has announced a definitive agreement to acquire family-owned Basler Electric Company for a cash consideration of approximately $350 million. When adjusted for the present value of expected tax benefits of approximately $30 million, the net transaction value is approximately $320 million. Basler is a leading designer and manufacturer of innovative electrical control and protection solutions for high-growth industrial markets including grid and utility infrastructure, power generation and data center. It has three manufacturing facilities: Highland, Ill.; Taylor, Texas; and Piedras Negras, Mexico.
“The acquisition of Basler demonstrates our commitment to deploy our strong free cash flow in a disciplined manner toward strategic acquisitions that enhance our access to high-growth markets supported by strong secular trends. Basler’s leading technology capabilities and deeply embedded customer relationships, built over 80+ years of innovation, further enhance our position as a leader in the safe and efficient transfer of electrical energy,” said Greg Henderson, president and CEO of Littelfuse. “The addition of Basler aligns with our strategic priorities by strengthening our secular growth story while opening new organic growth opportunities for Littelfuse products. We are excited to welcome the Basler team and look forward to leveraging our complementary technologies, engineering capabilities and manufacturing footprint to drive long-term growth, profitability enhancements, and shareholder value.”
