Littelfuse to buy Connecticut electronics company
CHICAGO -- Littelfuse Inc. Wednesday said it has signed a definitive agreement to acquire Carling Technologies for $315 million in cash, subject to a working capital adjustment.
Founded in 1920, Carling provides switching and circuit protection technologies with a strong global presence in commercial vehicle, marine and datacom/telecom infrastructure markets. The business is headquartered in Plainville, Connecticut, with offices and facilities around the world.
Carling has annualized sales of approximately $170 million.
"We are excited to welcome Carling employees to the Littelfuse team," said Dave Lesperance, vice president and general manager, Littelfuse Commercial Vehicle Business. "With its strong brand name and a long history of innovation, quality and reliability, Carling enhances our presence and growth in commercial vehicles and communications infrastructure.
"Our complementary engineering capabilities, application expertise and product portfolios will drive deeper engagement with a broader base of customers and distribution partners, serving as a platform for future growth."
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close later this year.