Bel Fuse Inc. announced on November 14, 2024, the closing of its previously announced majority stake acquisition of Enercon Technologies, Ltd. The transaction was based on an enterprise value of $400 million, with Bel acquiring an 80% stake for $320 million, subject to customary adjustments.
The acquisition was funded through approximately $80 million of cash on hand and $240 million from incremental borrowings under the company’s revolving credit facility. Enercon is a leading supplier of highly engineered power conversion and networking solutions for global military and aerospace markets.
Enercon reported LTM Q3 2024 sales of $115 million with a gross profit margin of 47%. This acquisition extends Bel’s product portfolio to include power solutions for aerospace and defense, expands its manufacturing footprint into India and the U.S., and adds engineering talent in Israel. Enercon will operate independently under Bel’s Power Solutions and Protection segment.
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