Bell Industries, Inc. announced the sale of substantially all of the assets, excluding real estate, of its J.W. Miller division to Bourns, Inc. for $8.5 million in cash, subject to post closing adjustments. Bourns is a privately owned company based in Riverside, California and J.W. Miller is located nearby in Gardena.
J.W. Miller manufactures and distributes a variety of standard and custom magnetic components used in electronic applications for computer, medical and telecommunications equipment. The unit had sales of approximately $8.4 million in 2005.
"J.W. Miller is our smallest business unit, and the sale to Bourns is in keeping with our strategy of focusing on core business operations and aligning our resources to become leaders in the key markets we serve," said John A. Fellows, Bell Industries' chief executive officer.
According to Jim Somers, General Manager of the Bourns Magnetics Business, this acquisition significantly strengthens Bourns position as a leading supplier of magnetic products and solutions for the electronics industry throughout the world. Mr. Somers said that following a brief transition period, Bourns intends to move the JW Miller Business from Gardena to Bourns Riverside facility.
