December 20, 2010
CHICAGO, Illinois – Littelfuse, Inc. (NASDAQ:LFUS) today announced that it has purchased all the outstanding stock of Cole Hersee Co. Cole Hersee, which is based in Boston, Massachusetts, is a recognized leader in the off-road, truck and bus (OTB) market with annual revenues of approximately $43 million.
"The acquisition of Cole Hersee is a significant step in our strategy to expand our OTB business,” said Dieter Röder, Vice President and General Manager of Littelfuse’s Automotive Business Unit. “We expect the Cole Hersee acquisition to strengthen key customer relationships, expand our distribution network and extend our product offering. Their focus on power management products and heavy duty electromechanical and solid-state switches for DC electrical systems expands our offering to this diverse OTB customer base.”
Donald Mayer, Vice President of Cole Hersee, added, “This is a great fit. We think the combination with Littelfuse will allow us to bring new products and capabilities to our customers and enable new opportunities to grow the business.”
Terms of the transaction included cash consideration of $50 million, which was paid out of cash on hand and existing credit facilities.
In connection with the transaction, Shields and Company acted as financial advisor to Cole Hersee.
About Cole Hersee
Since its founding in 1924, Cole Hersee has been a pioneer and leader in the development of heavy-duty electrical products for the vehicle industry and has earned a reputation for quality and value. Cole Hersee collaborated on many basic industry standards and today is a preferred supplier of over 2,000 dependable products and accessories for construction, agriculture, military and commercial vehicles. Cole Hersee products are available as standard or custom designed products to meet customer needs. Cole Hersee is ISO 9001-certified. The company is headquartered in Boston, Mass. with manufacturing in Muzquiz, Mexico, and distribution in Schertz, Texas.
About Littelfuse
Littelfuse is the worldwide leader in circuit protection, offering the industry’s broadest and deepest portfolio of circuit protection products and solutions. Backed by industry-leading technical support, design and manufacturing expertise, Littelfuse products are vital components in virtually every product that uses electrical energy, including portable and consumer electronics, automobiles, industrial equipment and telecom/datacom circuits. In addition to its Chicago, Illinois, world headquarters, Littelfuse has over 20 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses; Gas Discharge Tubes (GDTs); Positive Temperature Coefficient Devices (PTCs); Protection Relays; PulseGuard® ESD Suppressors; SIDACtor® Devices; Silicon Protection Arrays (SPA™); Switching Thyristors; TVS Diodes and Varistors. For more information, please visit Littelfuse’s Web site at www.littelfuse.com.
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