CUI Inc and its parent company CUI Global, Inc. (NASDAQ:CUI), announced today that they have entered into a definitive agreement under which CUI will acquire specific assets of the privately held Canadian equipment manufacturer Tectrol, Inc, a leading designer and manufacturer of standard and custom power solutions.
Tectrol is a family-owned, Toronto, Canada-based company that was founded in 1968. For over 40 years, the Company has consistently been one of the most flexible and most respected providers of power products with the unique ability to accommodate design challenges for low, medium and high volume applications. Its customer list includes some of the most iconic electronics, networking, medical and technology companies in the world.
The acquisition will greatly expand CUI's power product portfolio along with its engineering and manufacturing capabilities. Already a leader in the digital power space, the Tectrol line will add a standard portfolio of high-density, high-efficiency ac & dc power supplies ranging from 200 W to 3000 W along with modified-standard and custom capabilities. The acquisition will also significantly boost CUI's power design and manufacturing resources with the addition of Tectrol's advanced 74,000 sq. ft. Toronto, CA facility.
CUI's President, Matt McKenzie commented, “We believe this transaction is a step forward for our company as we look to deliver our customers the most advanced power solutions from the ac front-end all the way to the dc point-of-load. We are very excited about the synergies between the companies and are confident that the integration will immediately enhance the capabilities of our Power group.”
The Tectrol line complements CUI’s Novum® Advanced Power products and will serve the same primary customer base. Having already developed the board-level Novum product line, CUI will now be able to offer a complete power system with Tectrol’s robust line of power supplies feeding the power to the board level modules.
“This acquisition furthers our value proposition to the customer base that we are already engaged with. As many OEMs look to consolidate their supplier base, it is essential we are able to offer the most comprehensive solution for their power systems,” McKenzie concluded.
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