DES PLAINES, IL — Illinois-based Littelfuse, Inc. has entered into a definitive agreement to acquire an 82 percent majority stake in Heinrich Industrie AG, which makes circuit protection products.
Littelfuse has agreed to buy the majority stake for approximately $47.2 million in cash. The transaction was expected to close this week.
Littelfuse will purchase the controlling interest in Heinrich Industrie from the company’s two largest shareholders and later this quarter will initiate a tender offer for the remaining shares of the publicly held company. The company said it will finance the transaction through cash on hand and use of its existing credit facility.
Heinrich Industrie, headquartered in Essen, Germany, is the holding company for the WICKMANN Group of circuit protection products, which has three business units: electronic, automotive and electrical. Heinrich Industrie is one of the leading global companies in the fuse industry, with strong market positions in Europe, especially Germany, and a growing presence in Asia. Heinrich’s shares are traded on the Dusseldorf, Frankfurt and Stuttgart Stock Exchanges.
To learn more about Littelfuse, go to: www.littelfuse.com.
_______________________________________
Click here to view the rest of today’s headlines.
