Vishay Announces Acquisition of HiRel Systems, a Specialty Inductor Company
Vishay Intertechnology announced the acquisition of HiRel Systems LLC, a supplier of transformers, inductors, coils, and power conversion products. The purchase price was approximately $85 million, including repayment of HiRel debt, and subject to customary post-closing adjustments.
"We are pleased to welcome HiRel into the Vishay family," said Marc Zandman, Vishay’s Executive Chairman and Chief Business Development Officer. "The HiRel Systems product and technology portfolio will further enhance our inductors portfolio, particularly in the field of custom magnetics for medical, military, aerospace and aviation, and applications in the industrial and commercial field such as renewable energy and test and measurement equipment."
"In the Company’s announced growth plan," stated Dr. Gerald Paul, Vishay’s President and Chief Executive Officer, "we indicated that niche acquisitions would supplement intensified internal growth. Our acquisition of HiRel Systems fits well into this strategy, strengthening our product offering in the high reliability inductor and transformer business."