Bel Closes on Acquisition of CUI Inc. Power Assets
Bel Fuse Inc. - Class A (BELFA)
US:NASDAQ Investor Relations:
ir.belfuse.com/investor-relations
Company Research
Source: GlobeNewswire
JERSEY CITY, N.J., Dec. 03, 2019 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (“Bel,” or, “the Company”) (Nasdaq:BELFA and Nasdaq:BELFB), a leading supplier of products that power, protect and connect electronic circuits, today announced that the Company has closed on its previously-announced asset purchase agreement (the “Agreement”) with CUI Global Inc. (Nasdaq:CUI) related to the purchase of the majority of the power business of CUI Inc. The acquired business had trailing twelve-month sales of approximately $37 million and is expected to be accretive to Bel’s consolidated net earnings by the second quarter of 2020. Gross margins (unaudited) are higher than Bel’s historical range, and the combination is expected to yield annual cost synergies of approximately $500,000. Bel will continue to operate the business from CUI Inc.’s leased ISO 9001:2015-certified facility in Tualatin, Oregon. Transaction BenefitsThe well-known CUI Inc. power brand will join Bel Power Solutions as leading power
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BELFA
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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