Littelfuse acquires Sweden-based ACCEL
Deal expands company’s position in automotive sensor market
Littelfuse, Inc. has acquired ACCEL AB, based in Vänersborg, Sweden, in a cash transaction. ACCEL is a manufacturer of advanced electromechanical products, including sensors and switches, primarily for the automotive industry.
“The acquisition of ACCEL gives us an initial foothold in the growing automotive sensor market and is consistent with our strategy to expand beyond circuit protection into adjacent, complementary technologies,” said Dieter Roeder, vice president and general manager of the Littelfuse Automotive Business Unit.
“ACCEL’s pipeline of new products and strong relationships with OEM and Tier 1 automotive customers around the world provide excellent growth opportunities for Littelfuse. In addition, ACCEL’s facility in Kaunas, Lithuania, provides us with a low-cost manufacturing base in Eastern Europe,” added Roeder.
Magnus Nilsson, Managing Director of ACCEL, said, “We are excited to join Littelfuse. The company’s strong global presence will enable us to better serve our customers and expand our business into new geographies. The good cultural fit and many synergies between the two companies will provide long-term benefits for both organizations.”
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey