Belden Inc., St. Louis, is on the acquisition hunt, and last month announced two deals. The company bought the communications products business of Thomas & Betts Corp. (T&B), Memphis, for $78 million in cash, and GarrettCom, Fremont, Calif., a provider of advanced industrial networking products and smart-grid solutions.
T&B's VDV business, which had been in its global electrical segment, generated approximately $45 million in sales for the first nine months of 2010. The transaction is expected to be completed by year-end 2010, subject to regulatory approval.
For Belden, the acquisition will further strengthen its position as an end-to-end solution provider within the broadband/CATV, security and audio/video markets. The business unit includes Snap-N-Seal drop connectors, LRC hardline connectors, Diamond hardware and grounding products, and telecom enclosures and connectors, including the Kold-N-Klose enclosure system. By adding these established brands and radio frequency (RF) connectors to its portfolio of audio, video and security cables, Belden plans to expand its end-to-end solution offering and leverage its existing channels.
The GarrettCom acquisition adds industrial grade switches, routers, converters, serial communications and security software to Belden's basket of products. GarrettCom sells its products into power utilities, surveillance and security, transportation, specialty industrial automation, telecommunications and similar demanding harsh-environment verticals through a network of system integrators, OEMs and international distributors.
“GarrettCom provides an excellent platform for Belden to partner with power utilities as they upgrade and automate their transmission and distribution infrastructure,” said John Stroup, Belden's president and CEO in a press statement. “The addition of GarrettCom's products will complement our existing industrial networking portfolio and strengthen our position as the world's leading provider of complete industrial networking solutions.”