Bel Fuse Inc. (NASDAQ: BELFA; BELFB) has closed its acquisition of Cinch Connectors from Safran S.A. Bel Fuse acquired the business for around $37.5 million in cash plus about $1.5 million for the assumption of specific expenses. The final purchase price remains subject to certain adjustments that are related to working capital. Bel Fuse funded the transaction with cash on hand.
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Bel (www.belfuse.com) and its subsidiaries are primarily engaged in the design, manufacture and sale of products used in networking, telecommunications, high speed data transmission, and consumer electronics.
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