Littelfuse to acquire Carling Technologies
Industrial technology manufacturing company, Littelfuse announces that it has entered into a definitive agreement to acquire Carling Technologies for USD 315 million in cash.
With a history dating back to 1920, Carling has a name a name for it self in switching and circuit protection technologies and has built up a strong global presence in the commercial vehicle, marine and datacom/telecom infrastructure markets. The business is headquartered in Plainville, Connecticut, with offices and facilities located around the world. The company has annualised sales of approximately USD 170 million. "We are excited to welcome Carling employees to the Littelfuse team," says Dave Lesperance, Vice President and General Manager, Littelfuse Commercial Vehicle Business in a press release. "With its strong brand name and a long history of innovation, quality, and reliability, Carling enhances our presence and growth in commercial vehicles and communications infrastructure. Our complementary engineering capabilities, application expertise, and product portfolios will drive deeper engagement with a broader base of customers and distribution partners, serving as a platform for future growth.” "The combination of Carling and Littelfuse, both with a rich heritage, will leverage our collective resources and portfolios to create increased value for our customers," adds Richard Sorenson, Sr., Carling Technologies President and Chief Executive Officer. "Joining a world-class organization like Littelfuse will accelerate our business plans and provide expanded opportunities for our employees around the world.” The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close during the fourth calendar quarter of 2021.