- Littelfuse (NASDAQ: LFUS) recently announced it is buying C&K Switches for $540 million. These are the details.
Littelfuse, Inc. (LFUS) (NASDAQ: LFUS) – an industrial technology manufacturing company empowering a sustainable, connected, and safer world – announced it has entered into a definitive agreement with an affiliate of Sun Capital Partners to acquire C&K Switches at an enterprise value of $540 million.
Launched in 1928, C&K Switches is a leading designer and manufacturer of high-performance electromechanical switches and interconnect solutions with a strong global presence across a broad range of end markets, including industrial, transportation, aerospace, and datacom. Based in Waltham, Massachusetts, with facilities located around the world, C&K Switches has annualized sales of over $200 million.
The deal is subject to customary closing conditions and regulatory approvals and is expected to close during the second calendar quarter of 2022. And C&K Switches will be reported within the company’s Electronics reporting segment. Littelfuse expects to finance the transaction consideration through a combination of cash and debt.
Littelfuse will share additional details about C&K Switches during the company’s first quarter of fiscal 2022 earnings conference call.
KEY QUOTE:
“We are excited to welcome C&K Switches employees to the Littelfuse team. With its strong brand reputation, a long history of design excellence and high-performing products, the addition of C&K Switches will enhance our presence and growth in our target markets. Our complementary go-to-market models — through a combination of direct sales and channel distribution — and expanded product portfolio will serve as a platform for future growth.”
— Deepak Nayar, Senior Vice President and General Manager, Littelfuse Electronics Business
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