Group 1 - Bel Fuse Inc. has acquired an 80% stake in Enercon Technologies for 400 million, and plans to purchase the remaining 20% by early 2027 based on future EBITDA performance [1][2] - The acquisition was funded using approximately 240 million through incremental borrowings under the Company's revolving credit facility [1] - Enercon is a leading supplier of power conversion and networking solutions, with LTM Q3 2024 sales of $115 million and a gross profit margin of 47% [2][3] Group 2 - The acquisition allows Bel to expand its product portfolio in the aerospace and defense markets, creating potential cross-selling opportunities [3] - Bel's manufacturing footprint will extend into India and the U.S., enhancing its capabilities with a skilled engineering team based in Israel [3] - Enercon will operate independently under the Bel Power and Solutions segment, maintaining its focus on military and aerospace markets [3]
Bel Closes Its Previously Announced Acquisition of Enercon Technologies