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©otnaydur-dreamstime.com Electronics Production | January 30, 2012

ABB to buy Thomas & Betts

ABB will acquire Thomas & Betts, a North American provider of voltage products for $3.9 US billion.
ABB said in an announcement that the acquisition will allow it to access over 6000 distributor locations and wholesalers in North America and double its addressable market in North America to approximately $24 billion.

Thomas & Betts employs approximately 9,400 people and is estimated to report 2011 revenues of approximately $2.3 billion and earnings before interest, taxes, depreciation and amortization of approximately $390 million.

The company said it expects the deal to produce around $200 million in annual synergies by 2016.

“This is a unique opportunity for ABB to grow in the largely untapped North American low-voltage products market,” said Tarak Mehta, Executive Committee member responsible for ABB’s Low Voltage Products division, into which Thomas & Betts will be integrated as a stand-alone unit. “We plan to keep and build on Thomas & Betts’ strong brand and product names. We have complementary products that can be sold together already today and other products that will take some time to introduce to customers.”

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