Bel Closes Its Previously Announced Acquisition of 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., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (“Bel,” or, “the Company”) (Nasdaq:BELFA and Nasdaq:BELFB), announced today that it has closed the previously announced majority stake acquisition of Enercon Technologies, Ltd. (“Enercon”) from Fortissimo Capital based on an enterprise value of $400 million. Bel has acquired an 80% stake upfront for $320 million (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. The transaction was funded through utilization of cash on hand of approximately $80 million, with approximately $240 million provided through incremental borrowings under the Company’s revolving credit facility. Enercon is a leading supplier of highly engineered power conversion and networking solutions to military and aerospace markets globally. Enercon is headquartered in Netanya, Israel with manufa
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BELFA
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- Bel Fuse Announces Upcoming Investor Conference Schedule for December 2024GlobeNewswire
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- 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
BELFA
Sec Filings
- 12/20/24 - Form SCHEDULE
- 11/26/24 - Form 4
- 11/25/24 - Form 144
- BELFA's page on the SEC website