SL Combines Ault and Condor into New Subsidiary

April 23, 2006 by Jeff Shepard

SL Industries, Inc. announced today the new subsidiary, SL Power Electronics Corp., which combines two of the company's current power supply companies, Condor DC Power Supplies and Ault Incorporated, to provide customers with a single source for internal and external power supply needs.

Condor DC Power Supplies is focused on the design of internal medical power supplies as well as commercial ac-dc switching and linear power supplies from 7 to 6,000 watts. Minnesota-based Ault Incorporated focuses on the design of external power supplies, battery chargers and mobile adapters for the medical, communications, industrial and computer segments of the global power supply market. SL Industries completed its cash tender offer for Ault Incorporated in late January and will market Ault-branded products, along with Condor-branded products, under the new SL Power Electronics Corp subsidiary.

"We are very excited about the union of our two companies and the expanded capabilities we have as a result," explained Gene Ruddy, president and CEO of SL Power Electronics Corp. "Each company enjoys a solid reputation and global customer base, which established them as leaders in their respective product categories and markets. Together, we become the leader in the medical OEM power supply market as well as a formidable competitor in all major market segments in the global power electronics industry."

SL Power Electronics will continue to develop, market and sell Condor- and Ault - brand products to take advantage of their strong name recognition, reputation and brand longevity in the power supply industry. Condor is an established brand for internal power (when the power supply is located within an OEM's device or system) and Ault is a well-known brand for external power (when the power supply is located outside an OEM's device or system as a desktop or wall mount model). The headquarters for SL Power Electronics will be in California, with engineering and sales offices in California, Minnesota, Massachusetts, the UK and China.