Bel Acquires rms Connectors, Inc.
JERSEY CITY, N.J., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (“Bel,” or, “the Company”) (Nasdaq:BELFA and Nasdaq:BELFB), a leading supplier of products that power, protect and connect electronic circuits, today announced that the Company has acquired rms Connectors, Inc. (“rms Connectors”), from rms Company Inc., a division of Cretex Companies, Inc. rms Connectors is a highly regarded connector manufacturer with over 30 years of experience producing harsh environment circular connectors used in a variety of Military and Aerospace applications. With Bel working closely with Cretex, we were able to move from letter of intent to a definitive purchase agreement in less than two months over the holiday season. This marks Bel’s second acquisition announcement this week.
Daniel Bernstein, CEO of Bel, stated, “This acquisition perfectly complements the existing Military and Aerospace product portfolio under Bel’s Cinch Connectivity Solutions group by expanding its offering of Mil-Spec qualified connectors, including the addition of the MIL-DTL-83723 Series III connector family. The rms Connectors products, capabilities, and reputation for quality align with Cinch’s core strategy of properly positioning ourselves to support our key customers and increase revenue in the Military and Aerospace market segment.”
Bernstein added, “We anticipate a smooth transition as we integrate rms Connectors operations into the Cinch Connectivity facilities. The two companies have a similar customer base and many common distribution and supplier partners. We look forward to expanding these relationships as well as leveraging the combined manufacturing resources to improve our operational efficiency.”
23rd Annual Needham Growth Conference (Virtual) on January 11-15, 2021:
Interested parties may schedule a one-on-one meeting in advance of the conference through the Needham on-line meeting platform, or by contacting Peter Seltzberg, Investor Relations for Bel. A 30-minute group presentation is additionally scheduled to begin at 1:15 PM (Eastern Time) on January 15, 2021 for attendees. The group presentation will be broadcast over the internet, and will be available on the investor relations portion of Bel’s website in the Events and Presentations Section.
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