MALVERN, Pa. -- Vishay Intertechnology, (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced the acquisition of HiRel Systems LLC, a leading supplier of high reliability transformers, inductors, coils, and power conversion products. The purchase price was approximately $85 million, including repayment of HiRel debt, and subject to customary post-closing adjustments.
By welcoming HiRel Systems into the Vishay family, we are substantially expanding and strengthening our specialty magnetic product business.
"We are pleased to welcome HiRel into the Vishay family,” said Marc Zandman, Vishay’s Executive Chairman and Chief Business Development Officer. “The HiRel Systems product and technology portfolio will further enhance our inductors portfolio, particularly in the field of custom magnetics for medical, military, aerospace and aviation, and applications in the industrial and commercial field such as renewable energy and test and measurement equipment.”
"In the Company’s announced growth plan,” stated Dr. Gerald Paul, Vishay’s President and Chief Executive Officer, “we indicated that niche acquisitions would supplement intensified internal growth. Our acquisition of HiRel Systems fits well into this strategy, strengthening our product offering in the high reliability inductor and transformer business.”
ABOUT VISHAY:
Vishay Intertechnology was founded in 1962 by Dr. Felix Zandman, with the financial support of Alfred P. Slaner. The Company was named after the village in Lithuania where relatives of Dr. Zandman and Mr. Slaner had perished during the Holocaust. The Company began operations with one technology that had two product lines: foil resistors and foil resistance strain gages. In 1985, having grown from a start-up into the world’s leading manufacturer of these original products, the Company began an ongoing series of strategic acquisitions to become a broad-line manufacturer of electronic components. Today, Vishay Intertechnology is one of the world’s largest manufacturers of discrete semiconductors and passive electronic components.
ABOUT HiRel Systems:
HiRel Systems is a world leader in design and manufacturing of custom magnetic components and military power supplies. Our design engineers typically have 15 - 20 years of experience in magnetics and power supplies. HiRel Systems can design leading edge magnetic components for industries, including medical, military, avionics, test & measurement, industrial and specialty commercial.
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