CUI Global and Bel Fuse have entered into an asset purchase agreement under which CUI Global will sell the majority of its power business to Bel for $32 million.
The CUI Power Business is a division within CUI Global’s power and electromechanical (P&EM) segment.
Excluded from the agreement is CUI Global’s approximate 20 percent equity interest in Virtual Power Systems (VPS).
“This transaction unlocks the substantial value in our P&EM segment and is an important step in our transformation into a diversified energy services platform that is grounded in our existing product portfolio and gas infrastructure capabilities,” said Jim O’Neil, CEO of CUI Global. “With this divestiture behind us, we move forward with an aggressive and disciplined acquisition strategy to tap into secular demand trends in the electric power, oil and gas, and telecommunication infrastructure industries for long-term shareholder value creation.”
Daniel Bernstein,
