---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-035846"
form_type: "8-K"
ticker: "BELFA"
cik: "0000729580"
company_name: "BEL FUSE INC /NJ"
filed_at: "2024-11-20T23:59:59+00:00"
generated_at: "2026-05-29T22:13:43.512079+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Bel Fuse closes $320M acquisition of 80% stake in Enercon Technologies, defense power supplier

## Summary
- Cash purchase price $320M plus up to $10M earnout; enterprise value $400M.
- Funded by $80M cash on hand and $240M from revolving credit facility; revolver increased to $325M.
- Enercon LTM Q3 2024 sales $115M, gross margin 47%; operates as sole supplier in aerospace/defense.
- Bel intends to purchase remaining 20% by early 2027 based on future EBITDA performance.
- Enercon to operate independently under Bel Power Solutions segment; facilities in Israel, US, India.

## SEC filing metadata
- accession: 0001437749-24-035846
- form_type: 8-K
- ticker: BELFA
- cik: 0000729580
- company_name: BEL FUSE INC /NJ
- filed_at: 2024-11-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/729580/000143774924035846/0001437749-24-035846-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/729580/000143774924035846/belfb20241105_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-035846
- JSON: https://secwatch.observer/filing/0001437749-24-035846.json
- Plain text: https://secwatch.observer/filing/0001437749-24-035846.txt

## Key facts
- M&A Transactions
  BEL FUSE INC /NJ completed an acquisition involving Enercon Technologies, Ltd., FF3 Holdings, L.P., and the other seller parties signatory to the Purchase Agreement for $320 million (subject to customary adjustments), plus up to $10 million in potential earnout payments (closed 2024-11-14).
  - Action: acquisition
  - Counterparty: Enercon Technologies, Ltd., FF3 Holdings, L.P., and the other seller parties signatory to the Purchase Agreement
  - Consideration: $320 million (subject to customary adjustments), plus up to $10 million in potential earnout payments
  - Closing: 2024-11-14
  source text: on the Closing Date, Bel acquired from the Sellers 80% of the issued and outstanding share capital of Enercon on a fully-diluted basis for (i) a cash purchase price of $320 million (subject to customary adjustments), plus (ii) up to $10 million in potential earnout payments for the 2025-2026 period (the “ Earnout Payments ”), as further described below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/729580/000143774924035846/0001437749-24-035846-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.