Chicago electronics manufacturer Littelfuse Inc. has agreed to acquire Plainville-based Carling Technologies, a maker of switches and circuit breakers, for $315 million in cash.
In a statement, Littelfuse officials said the linkup will help accelerate growth in their company’s vehicles and communications infrastructure segments and open up Littelfuse to new customers and distribution partners.
The transaction is expected to close in the fourth quarter of this year.
Carling, which has its global headquarters on Johnson Avenue, manufactures switches, controls, circuit breakers and power distribution units for the commercial vehicle, marine, telecommunications and data communications markets. It has approximately 2,800 employees worldwide, with sites in Florida, Texas, Mexico, England, Hong Kong and China.
The company has annualized sales of about $170 million.
“The combination of Carling and Littelfuse, both with a rich heritage, will leverage our collective resources and portfolios to create increased value for our customers,” said Carling President and CEO Richard Sorenson, Sr. “Joining a world-class organization like Littelfuse will accelerate our business plans and provide expanded opportunities for our employees around the world.”
Littelfuse manufactures a wide range of products, including sensors, fuses, integrated circuits, semiconductors and switches. It employs about 12,000 people worldwide.
More information about the deal is expected to be released next Wednesday, during Littelfuse’s third-quarter earnings conference call.
