Littelfuse Acquires Menber's, Manufacturer of Commercial Vehicle Power and Connection Systems
CHICAGO, April 4, 2016 — Littelfuse, Inc., (NASDAQ:LFUS) today announced it has completed the acquisition of Menber’s S.p.A., headquartered in Legnago, Italy. Menber’s specializes in the design, manufacturing, and selling of manual and electrical battery switches and trailer connectors for commercial vehicles. The company had sales of approximately $23 million (€21 million) in 2015 and employs approximately 120 associates. Terms of the acquisition were not disclosed.
“The acquisition of Menber’s is an important step forward in our strategy to expand the Littelfuse commercial vehicle product platform globally,” said Dave Lesperance, vice president and managing director, commercial vehicle products for Littelfuse. “Menber’s brings a European presence that grants us additional global channel access, strengthens our engineering resources and adds advanced product technologies to our portfolio.”
Simonetta Soave, president of Menber’s, said, “Joining the Littelfuse team is an exciting opportunity for Menber’s. Littelfuse has a strong global footprint and engineering expertise that will enable us to better serve our customers and expand our products into new markets.”
About Menber’s
Since 1965, Menber’s has been a leader in electrical and electronic products for all types of vehicles with a focus on connectors, coils and battery switches. Menber’s passion for its work and innovation has allowed it to grow, expand production systems and become a leading supplier to vehicle manufacturers. For more information, please visit the Menber’s website: www.menbers.it
About Littelfuse
Founded in 1927, Littelfuse is the world leader in circuit protection with growing global platforms in power control and sensing. The company serves customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays and sensors. Littelfuse has over 10,000 employees in more than 40 locations throughout the Americas, Europe and Asia. For more information, please visit the Littelfuse website: Littelfuse.com.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
The statements in this press release that are not historical facts are intended to constitute “forward-looking statements” entitled to the safe-harbor provisions of the PSLRA. These statements may involve risks and uncertainties, including, but not limited to, risks relating to product demand and market acceptance, economic conditions, the impact of competitive products and pricing, product quality problems or product recalls, capacity and supply difficulties or constraints, coal mining exposures reserves, failure of an indemnification for environmental liability, exchange rate fluctuations, commodity price fluctuations, the effect of the company’s accounting policies, labor disputes, restructuring costs in excess of expectations, pension plan asset returns less than assumed, integration of acquisitions and other risks which may be detailed in the company’s other Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company’s Annual Report on Form 10-K for the year ended January 2, 2016. For a further discussion of the risk factors of the company, please see Item 1A. “Risk Factors” to the company’s Annual Report on Form 10-K for the year ended January 2, 2016.
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