Littelfuse, Inc. (LFUS: Quote), a provider of circuit protection, on Friday said it has acquired Sweden -based ACCEL AB in a cash transaction. Terms of the transaction were not disclosed.
The company expects the acquisition to be accretive to its earnings in 2012.
ACCEL is a manufacturer of advanced electromechanical products, including sensors and switches, primarily for the automotive industry. The company, which has approximately 300 employees, generated revenues of approximately 16 million euros in 2011.
Dieter Roeder, Vice President and General Manager of the Littelfuse Automotive Business Unit, said, "The acquisition of ACCEL gives us an initial foothold in the growing automotive sensor market and is consistent with our strategy to expand beyond circuit protection into adjacent, complementary technologies.
"ACCEL's pipeline of new products and strong relationships with OEM and Tier 1 automotive customers around the world provide excellent growth opportunities for Littelfuse. In addition, ACCEL's facility in Kaunas, Lithuania, provides us with a low-cost manufacturing base in Eastern Europe," added Roeder.
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by RTT Staff Writer
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