CHICAGO -- (BUSINESS WIRE) -- Littelfuse, Inc. (NASDAQ:LFUS), today announced that it has completed the acquisition of SymCom, Inc. Headquartered in Rapid City, South Dakota, SymCom provides overload relays and pump controllers primarily to the industrial market. The company has sales of approximately $23 million and employs approximately 170 associates. Terms of the acquisition were not disclosed.
“The acquisition of SymCom is an important step forward in our strategy to diversify and grow the Littelfuse protection relay platform,” said Dan Stanek, Vice President and General Manager, Protection Relays and Custom Electrical Products for Littelfuse. “Adding SymCom to our existing mining-focused relay business strengthens our position in the broader industrial market.”
“This is an exciting new phase for SymCom,” said George Dunham, founder of SymCom, Inc. “I believe there is a great opportunity to leverage Littelfuse resources and channel partners to bring SymCom products into new markets and to better serve our existing customers.”
Since 1974, SymCom has been a leader in electronic control and protection design and manufacturing with an array of current and voltage monitors, motor and pump controls, and custom electronic controls. Often recognized by the MotorSaver®, PumpSaver® and SSAC® brand names, SymCom's products provide protection, communications, and control for most types and sizes of motors and pumps. SymCom also manufactures load sensors, alternating relays, intrinsically-safe relays, software, and custom controller boards. For more information, please visit the SymCom website: www.symcom.com.
Founded in 1927, Littelfuse is the world leader in circuit protection with growing global platforms in power control and sensing. The company serves customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays and sensors. Littelfuse has over 7,000 employees in more than 35 locations throughout the Americas, Europe and Asia. For more information, please visit the Littelfuse website: littelfuse.com.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995.
The statements in this press release that are not historical facts are intended to constitute “forward-looking statements” entitled to the safe-harbor provisions of the PSLRA. These statements may involve risks and uncertainties, including, but not limited to, risks relating to product demand and market acceptance, economic conditions, the impact of competitive products and pricing, product quality problems or product recalls, capacity and supply difficulties or constraints, coal mining exposures reserves, failure of an indemnification for environmental liability, exchange rate fluctuations, commodity price fluctuations, the effect of the company’s accounting policies, labor disputes, restructuring costs in excess of expectations, pension plan asset returns less than assumed, integration of acquisitions and other risks which may be detailed in the company’s other Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This report should be read in conjunction with information provided in the financial statements appearing in the company’s Annual Report on Form 10-K for the year ended December 29, 2012. For a further discussion of the risk factors of the company, please see Item 1A. “Risk Factors” to the company’s Annual Report on Form 10-K for the year ended December 29, 2012.
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