SL Industries, Inc. announced that it has successfully completed the acquisition of MTE Corp., an electromagnetic products manufacturer, for total cash consideration of approximately $15.5 million. SL Industries said the purchase price would be financed under its Revolving Credit Agreement with Bank of America, N.A. James C. Taylor, SL Industries' Chief Executive Officer, stated "We are very excited about this acquisition and believe it will significantly broaden the product portfolio of the SL Power Electronics Group in the high power market."
SL Industries, Inc. designs, manufactures and markets power electronics, power motion, power protection, teleprotection and communications equipment and systems that is used in a variety of medical, aerospace, computer, datacom, industrial, telecom, transportation and electric power utility equipment applications.
MTE Corp. designs and manufactures power quality electromagnetic products used to protect equipment from power surges, bring harmonics into compliance and improve the efficiency of variable speed motor drives. MTE's product lines include: three-phase ac reactors, dc link chokes and a series of harmonic, RFI/EMI and motor protection filters. These products are typically used in industrial plants and commercial buildings where non-linear loads and attendant harmonics produced by these loads are present.
