Hubbell Expands Utility Offering with Deal to Buy Burndy

Published Tuesday, September 15, 2009

Hubbell Inc., Orange, Conn., signed a definitive agreement to buy the Burndy connectors business from FCI Group for $360 million in cash. The addition of Burndy expands Hubbell's offering in several markets, most significantly the market for high-voltage connectors and tooling for electric utility transmission and distribution operations. Hubbell and FCI are expected to close the deal by Oct. 1. Burndy, based in Manchester, N.H., had revenues of $225 million in 2008, with operating margins “in the high teens,” according to a Hubbell press release. FCI said Burndy accounted for 12 percent of its total revenues that year.

Hubbell Expands Utility Offering with Deal to Buy Burndy

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