Bel Fuse to acquire 80% of Enercon Technologies for $320M, expanding A&D exposure to 31%

BEL FUSE INC /NJ

Enterprise value $400M; Bel acquires 80% for $320M cash plus up to $10M earnout for 2025-2026.
Enercon gross margin 46.0% and Adjusted EBITDA margin 32.5% for LTM Q2 2024.
Bel's aerospace & defense revenue share rises from 17.5% to 31% post-acquisition.
Deal expected to close by end of 2024, subject to customary regulatory approvals.
Expected to be accretive to GAAP EPS within one year and non-GAAP EPS on Day 1.

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