Thursday, September 28, 2006
Power-One Buys Magnetek's Power Electronics Group
Camarillo-based Power-One, a provider of power supplies, said this morning that it is paying $88.4M to acquire the power electronics group of Chatsworth-based Magnetek. The firm will also assume the company's debt. Magnetek's POwer Electronics Group is a provider of power supplies and alternative energy products. The deal includes $71.7M in cash, plus the assumption of $16.7M in debt. The deal is expected to close in October. Power-One said it obtained financing for the acquisition, and was advised by Needham & Company in the transaction.