October 21, 2021
Littelfuse, Inc. and Carling Technologies, Inc. recently announced that they have entered into a definitive agreement for Littelfuse to acquire Carling for $315 million in cash, subject to a working capital adjustment. Founded in 1920, Carling has a leading position in switching and circuit protection technologies with a strong global presence in commercial vehicle, marine and datacom/telecom infrastructure markets. The business is headquartered in Plainville, Connecticut, with offices and facilities located around the world. The company has annualized sales of approximately $170 million.
“We are excited to welcome Carling employees to the Littelfuse team,” said Dave Lesperance, Vice President and General Manager, Littelfuse Commercial Vehicle Business. “With its strong brand name and a long history of innovation, quality, and reliability, Carling enhances our presence and growth in commercial vehicles and communications infrastructure. Our complementary engineering capabilities, application expertise, and product portfolios will drive deeper engagement with a broader base of customers and distribution partners, serving as a platform for future growth.”
“The combination of Carling and Littelfuse, both with a rich heritage, will leverage our collective resources and portfolios to create increased value for our customers,” said Richard Sorenson, Sr., Carling Technologies President and Chief Executive Officer. “Joining a world-class organization like Littelfuse will accelerate our business plans and provide expanded opportunities for our employees around the world.”
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close during the fourth calendar quarter of 2021.
Littelfuse will share additional details about Carling during the company’s third quarter of fiscal 2021 earnings conference call on Wednesday, October 27, 2021 at 9:00 a.m. Central Time. The conference call will be available via webcast from www.littelfuse.com. A recording of the call will also be available there.