Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today announced the completion of its acquisition of Carling Technologies, Inc. (“Carling”). Carling has a leading position in switching and circuit protection technologies with a strong global presence in commercial transportation, communications infrastructure and marine markets.
“The combination of our companies significantly expands our technologies and capabilities, enabling critical scale,” said Dave Lesperance, Vice President and General Manager, Littelfuse Commercial Vehicle Business. “The addition of Carling more than doubles the size of our commercial vehicle business, and our complementary customers, channels, and products will accelerate our growth in strategic markets. It is a pleasure to welcome the Carling employees to the Littelfuse team, and we look forward to their contributions, as we continue to execute on our long-term growth strategy.”
Carling has annualized sales of approximately $170 million and will be reported within the Littelfuse commercial vehicle business incorporated into the company’s Automotive reporting segment.
A related slide presentation is available in the Investor Relations, News & Events, Presentations section of the company’s website at littelfuse.com.
Updated Fourth Quarter of 2021 Guidance*
With the completion of the Carling acquisition, the company now expects fourth quarter net sales in the range of $518 to $532 million and adjusted diluted EPS in the range of $2.82 to $2.98.
*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.
Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with 12,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at littelfuse.com.