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Acquisition Expands Industrial Product Portfolio and End Market Leadership
Littelfuse, Inc. (NASDAQ: LFUS), a global manufacturer of leading technologies in circuit protection, power control, and sensing, today announced it has acquired Hartland Controls. Headquartered in Rock Falls, Illinois, Hartland Controls is a manufacturer and leading supplier of electrical components used primarily in heating, ventilation, air conditioning, and refrigeration (HVAC/R) and other industrial and control systems applications. For 2020, Hartland Controls had sales of approximately $70 million.
"Hartland Controls is a premier provider of control products and assemblies, with an outstanding reputation for quality, engineering, and customer service," said Peter Kim, Vice President and General Manager, Littelfuse Industrial Business. "We are excited to welcome Hartland Controls’ associates to Littelfuse as we combine our capabilities and strong customer relationships."
Littelfuse will share additional details about the acquisition during the company’s fourth quarter of fiscal 2020 earnings conference call on Wednesday, February 3, 2021 at 9:00 a.m. Central Time. The live conference call will be available via webcast from www.littelfuse.com. A recording of the call will also be available there.
Littelfuse (NASDAQ: LFUS) is a global manufacturer of leading technologies in circuit protection, power control and sensing. Serving over 100,000 end customers, our products are found in automotive and commercial vehicles, industrial applications, data and telecommunications, medical devices, consumer electronics, and appliances. Our 11,000 worldwide associates partner with customers to design, manufacture and deliver innovative, high-quality solutions, for a safer, greener and increasingly connected world - everywhere, every day. Learn more at Littelfuse.com.
About Hartland Controls
Hartland Controls specializes in the design and manufacture of mission critical custom electrical control solutions and engineered assemblies used in HVAC, refrigeration, overhead door, irrigation, welding, water heating, pool and spa, vehicle charging and other aftermarket applications that require reliable starting and safe stopping. The company engineers, manufactures, and tests electrical components in its Rock Falls, Illinois, and Shanghai, China, facilities to the most rigorous domestic and international standards. Learn more at HartlandControls.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 Private Securities Litigation Reform Act. These statements may involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; 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 Littelfuse, Inc.'s ("Littelfuse" or the "Company") accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's 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 release 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 28, 2019. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 28, 2019, under the caption "Risk Factors" in its Quarterly Report on Form 10-Q for the quarter ended September 26, 2020, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov.
These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.
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