C&D Technologies Inc. (Tucson, AZ) announced that it has closed the acquisition of Celestica's Power Systems (Toronto, Ontario, Canada) division. The all-cash transaction was valued at $52.8 million.
C&D Technologies President and Chief Executive Officer Wade Roberts, Jr. stated, "The acquisition of Celestica's Power Systems operation is C&D's third completed transaction in the power electronics industry this year, thereby establishing C&D as a leading provider of power electronics solutions to major OEMs worldwide. With this acquisition, C&D gains a broader product offering, an expanded customer base and additional sophisticated, cost-effective engineering resources in Shanghai, China, where C&D currently enjoys a well-established presence. Clearly, these additional resources will enhance C&D's product development capabilities. We expect the transaction to be accretive to earnings per share in the current fiscal year."
