LONDON Safran S.A. is selling its Cinch Connectors operation to Bel Fuse Inc. (Jersey City, N.J.) for $37.5 million in cash plus approximately $1.5 million for the assumption of certain expenses.
Headquartered in Lombard, Illinois and with manufacturing facilities in Vinita, Oklahoma, Reynosa, Mexico and Worksop, England, Cinch had revenue of approximately $60 million in 2009.
“Cinch stands out in the highly fragmented connector market because of its innovative technologies, breadth of product offerings, outstanding customer service, and exceptional product performance,” said Daniel Bernstein, President of Bel. “Cinch's products and manufacturing assets are a natural addition to Bel's, and we see attractive growth opportunities in the combination of our extensive customer bases. We expect this acquisition to close in early 2010, and to be accretive to Bel's earnings in 2010.”
Cinch manufactures a range of interconnect products for customers in the military and aerospace, high-performance computing, telecom/datacom, and transportation markets.
Its brands and products include CIN::APSE & iQ, Omega, Dura-Con, cables, header & harness connectors, ModICE & ICE, and AMC connectors, as well as miniature ribbons, D-subminiature connectors, filtered D-subminiatures, barrier blocks and jones plugs & sockets.