Bel Fuse receives commitment from KeyBank for acquisition from Emerson

New York, May 16 - Bel Fuse Inc. said it has a commitment for financing from KeyBank NA to help fund its acquisition of the Emerson Network Power Connectivity Solutions business from Emerson Inc.

The cost of the purchase is $98 million in cash.

Bel Fuse will use the new financing allowing with available liquidity to fund the transaction.

Closing is expected in the second quarter, subject to clearance from regulators and other customary conditions.

Bel Fuse is a Jersey City, N.J.-based manufacturer of magnetic, modules, circuit protection and interconnect devices used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation and consumer electronics. Emerson Network Power Connectivity provides connectors and assemblies for high-performance radio frequency and microwave and harsh environment optical applications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.