Electronics Production | February 11, 2008
List: 60 power electronics transactions in 2007
There were 60 completed power electronics transactions in 2007, 76% higher than the 34 recorded in 2006 and more than six times the number of deals in 2004. Transactions doubled in Q4 to 25 versus the 13 recorded in both Q2 and Q3 as firms pushed to close by year end.
Lincolninternational believes that these statistics substantiate the consolidation occurring in the power electronics industry. Availability of capital, declining stock prices, price pressure from Asian suppliers and aggressive acquisition strategies from larger, well–financed power companies all contribute to industry-wide consolidation. Larger power companies are increasingly looking to grow by acquisition in an effort to expand into new geographies, access new customers, penetrate vertical markets, broaden product portfolios and obtain specific technologies. Power electronics transactions continue to be heavily weighted toward power supplies and power systems representing 47% of the total number of deals in 2007, and up 47% from a year ago. The information below should be read as following: Number, Date, Acquirer, Seller, Target, Type. 1 Jan-07 Protonex Technology Corporation Mesoscopic Devices LLC Mesoscopic Devices LLC 3 2 Jan-07 Microsemi Corporation ABS Ventures PowerDsine Ltd. 2 3 Jan-07 Inverness Capital Partners L.P ElectriTek AVT, Inc ElectriTek AVT, Inc 4 4 Feb-07 Schneider Electric SA American Power Conversion Corp. American Power Conversion Corp. 1 5 Feb-07 Global Equity Partners Beteiligungs Varta AG VARTA Microbattery GmbH 4 6 Mar-07 Chloride Group plc Masterpower Electronics Limited Masterpower Electronics Limited 1 7 Mar-07 Binary Technologies Ltd. AIC Technology Sdn. Bhd. Nucleus Electronics Ltd. 2 8 Mar-07 Bollore SA Anadarko Petroleum Corporation; Hydro Quebec Avestor Inc. 4 9 Mar-07 Xantrex Technology, Inc. GFI Energy Ventures LLC Elgar Electronics Corporation 1 10 Apr-07 Micro Power Electronics, Inc. SelfCHARGE, Inc. SelfCHARGE, Inc. 4 11 Apr-07 Plug Power Inc Ventures West Management Inc Cellex Power Products, Inc. 3 12 Apr-07 Tognum GmbH Katolight Corporation Katolight Corporation 1 13 Apr-07 Management AlfaTronix Limited AlfaTronix Limited 1 14 May-07 ESCA; Helix Partners Steco Batteries Steco Batteries 4 15 May-07 EnerSys Holdings (Luxembourg) S.à r.l. Energia Consult AD Energia AD 4 16 May-07 Chloride Group plc Ascor Power Systems Pte Limited Ascor Power Systems Pte Limited 4 17 Jun-07 Altra Holdings Inc TB Wood's Incorporated TB Wood's Incorporated 1 18 Jun-07 Eltek Energy Alcatel Ventures Valere Power, Inc. 1 19 Jun-07 Stadium Group plc Ferrus Power Ltd. Ferrus Power Ltd. 1 20 Jun-07 Eaton Corporation Pulizzi Engineering Inc Pulizzi Engineering Inc 1 21 Jun-07 Applied Kilovolts Ltd. Astec Europe Ltd. Brandenburg 1 22 Jun-07 Airpax Corporation LLC Dimensions Unlimited Inc Dimensions Unlimited Inc 1 23 Jul-07 Mohar Satler Investicije dd Keko Varicon dd Keko Varicon dd 2 24 Jul-07 Plug Power Inc Bruce Power LP General Hydrogen Inc 3 25 Jul-07 Bobinados De Transformadores SL Koninklijke Philips Electronics NV Philips Power Solutions 2 26 Jul-07 Thomas & Betts Corporation Danaher Corporation Danaher, Power Quality Business; Joslyn Hi-Voltage 1 27 Jul-07 AREVA SA Passoni e Villa s.r.l. Passoni e Villa s.r.l. 2 28 Aug-07 Sensata Technologies, Inc. Chicago Growth Partners Airpax Corporation 1 29 Aug-07 Axeon Holdings Plc Ristma AG Ristma AG 4 30 Aug-07 Emirates Investment & Development Company Eti Tech Corporation Berhad Eti Tech Corporation Berhad 4 31 Aug-07 Altor Fund II NorthStar Battery Company NorthStar Battery Company 4 32 Aug-07 Methode Electronics Inc. Value Engineered Products, Inc. Value Engineered Products, Inc. 2 33 Aug-07 Murata Manufacturing Co. Ltd. C&D Technologies Inc. Power Electronics Division 1 34 Sep-07 HEICO Electronic Technologies Corp. EMD Technologies, Inc. EMD Technologies, Inc. 1 35 Sep-07 Industrial Bank of Taiwan Delsolar Co. Ltd. Delsolar Co. Ltd. 3 36 Oct-07 Texas Instruments Inc. VentureTech Alliance LLC, PTI Ventures, OnPoint PowerPrecise Solutions, Inc. 2 37 Oct-07 KEMET Corp. Blue Skye Sarl Arcotronics Italia SpA 2 38 Oct-07 ImpediMed Limited XiTRON Technologies, Inc. XiTRON Technologies, Inc. 2 39 Oct-07 Ecotality Inc. Edelson Technology Partners Innergy Power Corporation 3 40 Oct-07 Institutional investors Blue Cap AG Proton Power Systems Plc 3 41 Oct-07 Eaton Corp Babco Electric Group Inc. Babco Electric Group Inc. 1 42 Oct-07 Institutional Investors Vashion Group Ltd. Vashion Group Ltd. 1 43 Oct-07 Crown Battery Manufacturing Company C&D Technologies Inc. C&D Technologies Motive Power Division 4 44 Oct-07 Eaton Corp Schneider Electric MGE Small Systems Business 1 45 Oct-07 Alstom SA Mondragón Corporación Cooperativa Ecotecnia Sccl 3 46 Nov-07 XP Power Ltd. Fortron/Source Corporation Fortron XP Power 1 47 Nov-07 Ecotality Inc. Electric Transportation Engineering Corp. Electric Transportation Engineering Corp. 3 48 Nov-07 TDK Corp. (TSE:6762) Goldman Sachs (Japan) Ltd. Densei-Lambda Co. Ltd. 1 49 Nov-07 Alternate Energy Holdings, Inc. (OTCPK:AEHI) Freedom Energy Solutions LLC Freedom Energy Solutions LLC 3 50 Nov-07 Bear Energy L.P. Williams Power Company, Inc. Williams Power Company, Inc.,Power Assets 1 51 Nov-07 Lite-On Technology Corp. Li Shin International Enterprise Corporation Li Shin International Enterprise Corporation 1 52 Nov-07 Ultralife Batteries Stationary Power Services Inc. Stationary Power Services Inc. 4 53 Nov-07 Ultralife Batteries Reserve Power Systems Inc. Reserve Power Systems Inc. 4 54 Dec-07 OOO Tsentr Region Invest Unified Energy System of Russia OAO KirovEnergoSbyt 1 55 Dec-07 Ecotality Inc. Edison Source Minit-Charger 4 56 Dec-07 Ametek Inc. California Instruments Corporation California Instruments Corporation 1 57 Dec-07 Aare-Tessin AG Buzmann Industries S.R.L. Buzmann Industries S.R.L. 1 58 Dec-07 Cooper Industries Ltd. Sure Power Industries, Inc. Sure Power Industries, Inc. 1 59 Dec-07 The Gores Group Tyco Electronics Tyco Electronics Power Systems 1 60 Dec-07 ON Semiconductor Corp. Analog Devices, Inc. Analog Devices, Inc., Voltage Regulation and Thermal Monitoring Products Type Key: 1=EMS Consolidation, 2=OEM Divestiture, 3=Vertical/Horizontal Integration, 4=EMS Divestiture, 5=Private Equity Investment. Source: Lincolninternational
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