Bel Fuse Inc., a technology company listed on the NASDAQ, has announced a definitive agreement to acquire a majority stake in Enercon Technologies from Fortissimo Capital. The $400 million enterprise valuation deal involves Bel acquiring an 80% stake for $320 million in cash, with additional potential earnout payments up to $10 million for the 2025-2026 period. The remaining 20% will be purchased by 2027 based on future EBITDA performance. This transaction, expected to close by the end of 2024, will expand Bel’s exposure to the aerospace and defense market and is anticipated to be accretive to Bel’s earnings. Enercon, a leading supplier in power conversion and networking solutions, will enhance Bel’s product portfolio, offering significant cross-selling opportunities. The acquisition is financed through a combination of cash on hand and an expanded credit facility.
Aerospace & Defense, Technology, Private Equity,United States, Israel, India
https://www.globenewswire.com/news-release/2024/09/19/2948685/0/en/Bel-Announces-Agreement-to-Acquire-Enercon-Technologies.html