Littelfuse Acquires Western Automation Research and Development
Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, today announced it has acquired Western Automation Research and Development Limited ("Western Automation"). Headquartered in Galway, Ireland, Western Automation is a designer and manufacturer of electrical shock protection devices used across a broad range of high-growth end markets, including e-Mobility off-board charging infrastructure, industrial safety and renewables.
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"Western Automation is a leading provider of premium technology solutions for electrical fault detection, with an outstanding reputation for innovation, quality and customer service," said Peter Kim, Senior Vice President and General Manager, Littelfuse Industrial Business. "This acquisition accelerates our growth in e-Mobility off-board charging infrastructure and further expands our capabilities into broader industrial markets and applications where we can better serve our global customer base. We are excited to welcome Western Automation associates to the Littelfuse team as we continue to execute on our long-term growth strategy in an increasingly electrified world."
Western Automation has annualized sales of around $25 million and will be reported within the company's Industrial reporting segment. The company does not expect the acquisition to have a material impact to its 2023 financial results.
Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 18,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets - everywhere, every day.Learn more at Littelfuse.com.
About Western Automation Research and Development
Founded in 1984, Western Automation Research and Development Limited is a leading developer and vendor of innovative technology solutions for electrical safety and shock protection. Western Automation has a strong global presence supplying to blue-chip OEMs across a range of sectors with a particular focus on the industrial segment and EV charger fault detection. The company is headquartered in Galway, Ireland, with operations in the UK, Spain and USA. Learn more at WesternAutomation.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. Such statements are based on Littelfuse, Inc.'s ("Littelfuse" or the "Company") current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties, include, but are 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; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse's 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 January 1, 2022. 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 January 1, 2022, its Quarterly Report on Form 10-Q for the quarter ended October 1, 2022, 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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