Bel Acquires Fibreco Limited
“We expect the acquisition of Fibreco to be immediately accretive to Bel’s earnings,” said Daniel Bernstein, Bel’s President and CEO. “This is the latest step in our strategy to focus on high value added, non-commodity components. Fibreco, which had trailing twelve month revenue of approximately $7 million, will join GigaCom Interconnect AB, which we acquired in March 2012, as part of Bel’s Cinch Connectors business. Fibreco’s fiber optic-based products complement Cinch’s copper-based products, increasing Cinch’s reach into aerospace, military, and industrial markets, while providing Fibreco with access to well-established sales channels it had not previously explored. The combination of Fibreco’s broad range of expanded beam fiber-based connector and cable products and GigaCom’s expanded beam EBOSATM technology creates an exciting new growth opportunity for our company.”
Stephens Inc. acted as financial advisor to Bel in this transaction.