Bel Announces Agreement to Acquire Enercon Technologies
Bel Fuse Inc. - Class A (BELFA)
US:NASDAQ Investor Relations:
ir.belfuse.com/investor-relations
Company Research
Source: GlobeNewswire
WEST ORANGE, N.J., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (“Bel,” or, “the Company”) (Nasdaq:BELFA and Nasdaq:BELFB), today announced that it has entered into a definitive agreement to acquire a majority stake in Enercon Technologies, Ltd. (“Enercon”) from Fortissimo Capital based on an enterprise value of $400 million. Bel will acquire an 80% stake upfront for $320 million in cash (subject to customary adjustments), plus up to $10 million of potential earnout payments for the 2025-2026 period, with the intent to purchase the remaining 20% by early 2027 based on future EBITDA performance. Transaction highlights: Expands Bel’s exposure to the aerospace and defense end market from 17.5% to 31% of total revenue, based on LTM Q2 2024Enercon gross margin of 46.0% and Adjusted EBITDA margin of 32.5% for LTM Q2 2024, ahead of Bel’s historical margin profileExpected to be accretive to Bel’s GAAP EPS within one-year post-close, and to Bel’s non-GAAP EPS on Day 1Expected net l
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BELFA
News
- With 77% ownership of the shares, Bel Fuse Inc. (NASDAQ:BELF.A) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Bel Fuse (BELFA) Post Q3 Earnings: Buy, Sell, or Hold? [Yahoo! Finance]Yahoo! Finance
- Bel Closes Its Previously Announced Acquisition of Enercon Technologies [Yahoo! Finance]Yahoo! Finance
- Bel Closes Its Previously Announced Acquisition of Enercon TechnologiesGlobeNewswire
- Bel Fuse Announces Upcoming Investor Conference Schedule for November 2024GlobeNewswire
BELFA
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- 11/20/24 - Form 8-K
- BELFA's page on the SEC website