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Bel Fuse Buys Array Connector

Zacks Equity Research

Diversified electronics manufacturer Bel Fuse Inc. (BELFB) recently acquired Array Connector Corp., a two-decade old manufacturer of aerospace and mil-spec connector products, for an undisclosed amount. The acquisition is the fifth of its kind for Bel Fuse in the past 15 months and the third to ramp-up the operations of its Cinch Connector division.

Miami-based Array Connector is a vertically integrated privately-held manufacturer of mil-spec circular connectors such as miniature 38999 connectors for military communications applications, ARINC809/EN4165 connectors for in-flight entertainment applications, and filtered connectors for military/aerospace applications. The company had revenues of about $10 million in 2012.

Bel Fuse anticipates the acquisition to be accretive from 2014 onward. In addition to its complimentary product portfolio, Array Connector boosts Cinch Connector’s production capacity with modern machining and molding facilities, extends client base, increases intellectual property rights and augments human capital.

Moving forward, Bel Fuse expects the acquisition to significantly strengthen its position as a premier provider of electronics parts to domestic and international aerospace, military and commercial customers.

Headquartered in Jersey City, NJ, Bel Fuse designs, manufactures and sells hi-tech products used in networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, automotive, medical and consumer electronic industries worldwide. Its product portfolio includes interconnect devices, magnetics, modules and circuit protection devices.

Bel Fuse presently carries a Zacks Rank #1 (Strong Buy). Other players in the industry worth reckoning include American Science & Engineering Inc. (ASEI), Daktronics Inc. (DAKT) and Jinpan International Limited (JST), each carrying a Zacks Rank #2 (Buy).

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