Bel Fuse closes majority stake acquisition of Enercon

Bel Fuse (BELFA) announced that it has closed the previously announced majority stake acquisition of Enercon Technologies, from Fortissimo Capital based on an enterprise value of $400 million. Bel has acquired an 80% stake upfront for $320 million, plus up to $10 million of potential earnout payments for the 2025-2026 period, with the intent to purchase the remaining 20% by early 2027 based on future EBITDA performance. The transaction was funded through utilization of cash on hand of approximately $80 million, with approximately $240 million provided through incremental borrowings under the Company’s revolving credit facility.