Manufacturers

Look who’s buying again? More manufacturer acquisitions making news

ABB now owns Thomas & Betts, Eaton Corp. is in the process of absorbing Cooper Industries, and General Cable recently said it was taking the operations of Alcan off of Rio Tinto’s hands, but there are more acquisitions in the works for these companies.

ABB is acquiring Tropos Networks—a company that works with the smart grid.

Eaton recently said it had completed the acquisition of a maker of hydraulic and industrial hose in Turkey (products sold under the SEL Hose brand).

General Cable said it would acquire 60% ownership of Procables S.A. of Columbia for $45 million. Full-year and full-company revenues for 2011 for Procables were given as $120 million.

Belden Inc. made an all-cash offer (not a hostile offer, apparently) to acquire the shares of Miranda Technologies of Canada. The price of the deal was estimated at 345 million in Canadian dollars.  When completed, Belden said the deal would increase the percentage of revenue it gets from networking and connectivity products to 36%, from 30%.

Coleman Cable spent $35 million to add the engineered product lines of Watteredge Inc., a 63-year-old company which provides products for “the steel, chemical, chlorine, power generation, fiberglass and automotive industries.”

Fujikura Ltd. has acquired a majority ownership position in Nistica of Bridgewater, N.J., a privately held company that supplies wavelength selective switches to network equipment makers.

Littelfuse Inc. acquired ACCEL AB of Sweden, a maker of “advanced electromechanical products.” The transaction price not revealed. ACCEL was said to have had 2011 revenues of about $20 million. Shocking Technologies raised another $10.5 million, with Littelfuse Inc. as the lead investor in this fundraising round. The company has raised more than $60 million in investment capital so far; Littelfuse took part in a 2011 capital-raising round as well. The company has developed Voltage Switchable Dielectric (VSD) material.

Energy technologies supplier PowerSecure International has acquired the utility, commercial, and industrial solar energy business of Southern Energy Management. This enables PowerSecure International to now offer utilities solar installations as part of its portfolio.

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