JERSEY CITY, N.J. - Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced today that it has closed the acquisition of Fibreco Limited, Great Dunmow, England, a supplier of expanded beam fiber optic components for applications in military and broadcast communications and offshore energy exploration. Terms of the acquisition were not disclosed.
"We expect the acquisition of Fibreco to be immediately accretive to Bel's earnings," said Daniel Bernstein, Bel's President and CEO. "This is the latest step in our strategy to focus on high value added, non-commodity components. Fibreco, which had trailing twelve month revenue of approximately $7 million, will join Gigacom Interconnect AB, which we acquired in March 2012, as part of Bel's Cinch Connectors business. Fibreco's fiber optic-based products complement Cinch's copper-based products, increasing Cinch's reach into aerospace, military, and industrial markets, while providing Fibreco with access to well-established sales channels it had not previously explored. The combination of Fibreco's broad range of expanded beam fiber-based connector and cable products and Gigacom's expanded beam EBOSA(TM) technology creates an exciting new growth opportunity for our company."
Stephens Inc. acted as financial advisor to Bel in this transaction.
Bel (www.belfuse.com) and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters, integrated analog front-end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (micro, circular and filtered D-Sub connectors, passive jacks, plugs and high-speed cable assemblies). The Company operates facilities around the world.
Bel Fuse Inc.
206 Van Vorst Street
Jersey City, NJ 07302
President & CEO
Neil Berkman Associates