Bel Fuse to Acquire Enercon Technologies From Fortissimo for up to $400 Million in Cash

MT Newswires Live09-19

Bel Fuse (BELFA, BELFB) said late Thursday it has agreed to acquire a majority stake in Enercon Technologies from Fortissimo Capital for up to $400 million in cash.

The company said it will initially acquire an 80% stake for $320 million in cash plus up to $10 million of potential payments in 2025 and 2026 and the remaining 20% by early 2027 based on future EBITDA performance.

The transaction, subject to regulatory approvals, is expected to close by the end of 2024. The company said it plans to use both cash on hand and existing credit facility to finance the acquisition.

Bel Fuse said the acquisition expands its exposure to the aerospace and defense market from 17.5% to 31% of total revenue. The deal is expected to be accretive to its GAAP earnings per share within a year and to Bel's non-GAAP earnings per share immediately, the company said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2468234540?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-19 16:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2468234540","market":"hk","top_or_hot":-1,"title":"Bel Fuse to Acquire Enercon Technologies From Fortissimo for up to $400 Million in Cash","media":"MT Newswires Live","content":"<html><body><p> Bel Fuse (BELFA, BELFB) said late Thursday it has agreed to acquire a majority stake in Enercon Technologies from Fortissimo Capital for up to $400 million in cash.</p><p>The company said it will initially acquire an 80% stake for $320 million in cash plus up to $10 million of potential payments in 2025 and 2026 and the remaining 20% by early 2027 based on future EBITDA performance.</p><p>The transaction, subject to regulatory approvals, is expected to close by the end of 2024. The company said it plans to use both cash on hand and existing credit facility to finance the acquisition.</p><p>Bel Fuse said the acquisition expands its exposure to the aerospace and defense market from 17.5% to 31% of total revenue. The deal is expected to be accretive to its GAAP earnings per share within a year and to Bel's non-GAAP earnings per share immediately, the company said.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bel Fuse to Acquire Enercon Technologies From Fortissimo for up to $400 Million in Cash</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBel Fuse to Acquire Enercon Technologies From Fortissimo for up to $400 Million in Cash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-19 16:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bel Fuse (BELFA, BELFB) said late Thursday it has agreed to acquire a majority stake in Enercon Technologies from Fortissimo Capital for up to $400 million in cash.The company said it will initially ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BELFA","symbol_name":"Bel Fuse Inc","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2468234540","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468234540","pubTimestamp":1726735321,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Bel Fuse  said late Thursday it has agreed to acquire a majority stake in Enercon Technologies from Fortissimo Capital for up to $400 million in cash.The company said it will initially acquire an 80% stake for $320 million in cash plus up to $10 million of potential payments in 2025 and 2026 and the remaining 20% by early 2027 based on future EBITDA performance.The transaction, subject to regulatory approvals, is expected to close by the end of 2024. The company said it plans to use both cash on hand and existing credit facility to finance the acquisition.Bel Fuse said the acquisition expands its exposure to the aerospace and defense market from 17.5% to 31% of total revenue. The deal is expected to be accretive to its GAAP earnings per share within a year and to Bel's non-GAAP earnings per share immediately, the company said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BELFA":"Bel Fuse Inc","BELFB":"Bel Fuse Inc","BK4148":"电子元件"},"translate_title":"Bel Fuse将以最多4亿美元现金从Fortissimo手中收购Enercon Technologies","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BELFA":0.9,"BELFB":0.9},"content_text":"Bel Fuse (BELFA, BELFB) said late Thursday it has agreed to acquire a majority stake in Enercon Technologies from Fortissimo Capital for up to $400 million in cash.The company said it will initially acquire an 80% stake for $320 million in cash plus up to $10 million of potential payments in 2025 and 2026 and the remaining 20% by early 2027 based on future EBITDA performance.The transaction, subject to regulatory approvals, is expected to close by the end of 2024. The company said it plans to use both cash on hand and existing credit facility to finance the acquisition.Bel Fuse said the acquisition expands its exposure to the aerospace and defense market from 17.5% to 31% of total revenue. The deal is expected to be accretive to its GAAP earnings per share within a year and to Bel's non-GAAP earnings per share immediately, the company said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468234540"}