Advanced Energy Closes Acquisition of SL Power to Enhance Power Conversion Products and Solutions.
MANews-(C)2009-2022
Denver, US-based power conversion company Advanced Energy (AE) (NASDAQ: AEIS) has closed the acquisition of California-based customised power solutions provider SL Power Electronics Corp. from Steel Partners Holdings L.P. (NYSE: SPLP) for USD 144.5m, the company said.
Under the deal, AE will pay a base purchase price of USD 144.5m, on a cash-free, debt-free basis and subject to a customary adjustment for working capital as of the closing.
Advanced Energy expects to finance the transaction with currently available cash.
The acquisition adds complementary products to Advanced Energy's medical power offerings and extends its presence in several advanced industrial markets.
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