Bel Closes Its Previously Announced Acquisition of Enercon Technologies [Yahoo! Finance]
Bel Fuse Inc. - Class A (BELFA)
US:NASDAQ Investor Relations:
ir.belfuse.com/investor-relations
Company Research
Source: Yahoo! Finance
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
News
- Bel Fuse (BELFA) Post Q3 Earnings: Buy, Sell, or Hold? [Yahoo! Finance]Yahoo! Finance
- Bel Closes Its Previously Announced Acquisition of Enercon TechnologiesGlobeNewswire
- Bel Fuse Announces Upcoming Investor Conference Schedule for November 2024GlobeNewswire
- Bel Fuse's (NASDAQ:BELF.A) Soft Earnings Are Actually Better Than They Appear [Yahoo! Finance]Yahoo! Finance
- Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on its Class A and Class B SharesGlobeNewswire
BELFA
Sec Filings
- 11/20/24 - Form 8-K
- 11/20/24 - Form 144
- 11/15/24 - Form SC
- BELFA's page on the SEC website