Unipower, LLC has acquired of the Network Power Systems division (NPS) of Bel Fuse Inc., previously part of Power-One. Terms of the sale were, $9 million in cash plus $1 million in escrow pending realization of certain sales targets. Proceeds of the sale will be used primarily to reduce debt. NPS specializes in advanced-technology dc power systems for use in networking, telecommunications and high-speed data transmission, further reinforcing Unipower's drive into the global dc power systems business. NPS brings a broad, state-of-the-art product offering, including high-efficiency rectifiers, dc systems and inverters. Serving customers throughout the world, the NPS acquisition expands Unipower's global footprint.
With the recent acquisition of the C&D Technologies Integrated Power Systems business, the NPS acquisition reinforces Unipower's goal of becoming a world-class provider of power components, dc systems and Services. Unipower's Integrated Power Systems business will offer customers the products of the three companies, as it works to provide next generation dc solutions for telecom, broadband, utilities and other mission critical applications.
"We are excited to have the opportunity to leverage UNIPOWER's capability with Bel Power Solutions state-of-the-art products to offer innovative solutions to discerning customers throughout the world" said John Heindel, CEO of Unipower. He went on to say, "we are happy to be associated with the Bel Power Solutions team and we will be totally focused on ensuring our customers experience world class customer care as they work with Unipower going forward."
The transaction provides that Bel will move processes and people to Unipower under an interim transition agreement. Bel will also continue to manufacture the NPS products for 24 months under a manufacturing agreement.
