News

C&D Technologies Announces Acquisition of Datel

June 15, 2004 by Jeff Shepard

In a deal that will merge two power supply companies, C&D Technologies Inc. (Tucson, AZ) has signed an agreement to buy Datel Inc. (Mansfield, MA) in an all-cash transaction. Exact terms of the agreement were not disclosed, however it was suggested that the purchase price was more than $50 million, but less than $100 million. The transaction is expected to close in the second quarter.

Datel, which primarily manufactures dc-dc converters, and builds digital panel meters and data acquisition components, had sales of approximately $60 million for the 12 months ending March 2004. By purchasing Datel, C&D Technologies broadens its power product line in mid-power dc-dc converters while obtaining access to a diverse group of OEM customers, including overseas customers. The acquisition also expands C&D’s presence in military markets.

Wade Roberts, Jr., president and CEO of C&D Technologies, commented, "This transaction comports with our plans for growing organically as well as via acquisition. This acquisition expands our customer base, product portfolio and international presence. In this latter regard, Datel's historic strength in Asia and Europe considerably enhances our international position. We look forward to Datel joining C&D while recognizing that this fine company has been extremely successful on its own."