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© otnaydur-dreamstime.com Business | June 23, 2014

Bel closes acquisition of ABB Power-One Solutions

Bel Fuse has closed its acquisition of the Power-One Solutions business from ABB. Bel acquired the Power Solutions business for approximately USD 117 million on a cash and debt-free basis.
The business had 2013 revenue of approximately USD 251 million and employs approximately 2'000 people with manufacturing facilities in Shenzhen, China and Dubnica nad Vahom, Slovakia. The acquisition is expected to be accretive to Bel's earnings beginning in the second half of 2014. Daniel Bernstein, Bel's President and CEO, said, "The acquisition of Power Solutions is a major step forward in the development of Bel's power business and the implementation of our strategy to enhance growth and profitability for our shareholders. Since 2009, we have believed that the combination of our two respective power businesses would create a dynamic enterprise capable of competing effectively on a global basis. Bel is excited by the many growth opportunities that will be created by this transaction, and we look forward to building an industry-leading power business with our new colleagues at Power Solutions."
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March 21 2019 3:37 pm V12.5.12-2